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11 Apr 2017

EUR/USD unresponsive to Yellen's comments

The price action of the EUR/USD pair remains subdued as the greenback is not showing any sharp reactions to Fed's Chairwoman Janet Yellen's comments. As of writing, the pair is up 0.05% at 1.0595.

The US Dollar Index has been essentially moving sideways between 101 and 100.90 since the start of the NA session, and Yellen hasn't been able to change that. At the moment, the index is down 0.14% at 100.94.

Yellen hasn't offered anything new regarding the monetary policy and hasn't shared any details on the balance sheet reduction. She reiterated that the US economy was in a healthy state and that the unemployment at 4.5% suggested 'full employment':

  • Fed's Yellen: Economy's growth potential is likely a bit below 2 pct
  • Fed's Yellen: I don't want to have to hike rates rapidly

Technical levels to consider

The pair is facing the first resistance at 1.0630 (100-DMA) before 1.0700 (psychological level) and 1.0760 (Mar. 24 low). On the downside, supports could be found at 1.0570 (daily/monthly low), 1.0455 (Jan. 11 low) and finally 1.0390 (Jan. 4 low).

Apr 11, 2017

Fed's Yellen: Labor market now at normal state

During a Q&A session with the audience at the University of Michigan, Fed's Chairwoman Janet Yellen said that labor market is now at "normal" state...
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Apr 11, 2017

WTI settles above $53

Crude oil prices recorded strong gains on Monday and refreshed its monthly top with the barrel of West Texas Intermediate settling at $53.14 recording
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