FXStreet (Guatemala) - EUR/USD is trading at 1.3199, up 0.24% on the day, having posted a daily high at 1.3211 and low at 1.3153.

The EUR/USD printed new 11 month lows but was lifted again on the German import prices that fell and GfK consumer confidence that remains close to its multi-year highs. Analysts a TD Securities also explained that sideline commentary helped to stabilize the currency. “ German FinMin Schaeuble suggested that President Draghi’s comments have been over-interpreted; while Jean-Claude Trichet suggested that the since the ECB has already announced “two major decisions (TLRTO and ABS) which have not yet been implemented; therefore before having new weaponry in place you’d have to apply what you already have”."

EUR/USD awaits ECB

The analysts at TD Securities noted that the ECB will meet on September 4th and there is building expectation for a stronger policy response at that meeting with many calling for the launch of QE and others expecting another interest rate cut. “Recognition by President Draghi that medium-term inflation expectations have fallen is an important shift and has been one the key ECB criteria for judging if there is the need for a stronger response. We expect EUR to continue to trend lower, targeting 1.30 by year-end."

EUR/USD levels

Support levels: 1.3160 1.3125 1.3090

Resistance levels: 1.3200 1.3220 1.3250

Related Articles
  1. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  2. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  3. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  4. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  5. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  6. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  7. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  8. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  9. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
  10. Forex News

    How The Forex "Fix" May Be Rigged

    When it comes to forex, some types of "fixes" are legal. But some really aren't.
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!