Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - ECB's president Mario Draghi affirmed early in the day that there is nothing new about negative rates, denying Wednesday's Bloomberg reporting on possible -0.1% on bank’s deposit. Then the EUR/USD bounced from 1.3430 and closed the day at 1.3480.

The United States continues sending mixed economic signals as today's jobless claims and preliminary manufacturing PMI reported a better than expected number while the Philadelphia Fed Manufacturing Survey showed a decline in November to the lowest since May.

The US stocks market closed with strong note on Thursday as investors digested economic data and welcomed the Senate's approval of Ms Yellen's nomination as Fed's boss.

On currencies, the EUR/USD just broke the 1.3475 resistance and reached fresh Thursday's high at 1.3485. The pair is now at 1.3480, with a mostly bearish technical picture in the 4-hour chart.

The GBP/USD resumed the uptrend and jumped above the 1.6120 to close at 1.6190, weekly high. "Price needs to accelerate above mentioned weekly high to be able to extend its gains up to 1.6250 area, past October highs," comments Valeria Bednarik from FXstreet.com. "If this last gets cleared, the pair may continue advancing up to 1.6380 this year high."

"USD/JPY, GBP/JPY and EUR/JPY are on a tear as the BOJ stays easy and the Fed gets ready to taper, someday, maybe…" Jamie Coleman from the FXbeat commented in a recent report. The USD/JPY broke hard the 100.75 resistance and it advanced to 101.15, highst since July 10. The pair now faces resistance at 101.45, July 8 high.

The AUD/USD finally broke the 0.9270 support and extended decline to test the 0.9200 area, lowest since September 9. According to Bednarik, the AUD/USD is confirming "500 pips H&S formation."

Main headlines in the American session:

US: Initial Jobless Claims fell to 323K

US: PPI dropped 0.2% MoM in October

US: Markit Manufacturing PMI (Nov.) rose to 54.3

US: Philadelphia Fed manufacturing Survey dips to 6.5 in November

EU November Consumer Confidence decreases to -15.4 vs -14.5 (October)

Yellen wins 14-8 vote on nomination

Fed's Lacker: Sometime between December and March would be appropriate time to begin tapering

Wall Street closes higher amid jobless data and Yellen normalization
comments powered by Disqus
Trading Center