The euro struck a high of 1.3765 and a low of 1.3713 yesterday as euro moved higher against the dollar on Tuesday after a widely watched gauge of US consumer confidence missed expectations and sent investors rethinking the pace at which the Federal Reserve will dismantle monetary stimulus tools that weaken the greenback to spur recovery. Meanwhile in Europe, the European Commission revised up its growth forecast for the euro zone to 1.2% this year, up from 1.1% in November, which bolstered the euro. However, the European Commission also cut its inflation forecast for 2014 to 1% from 1.5% in November, and warned that debt levels in several countries will continue to climb. Earlier Tuesday, official data confirmed that Germany’s economy grew 0.4% in the fourth quarter and expanded 1.3% on a year over year basis, as strong overseas demand bolstered exports. Time of Writing : 1330 HRS - PST (Wednesday, February 26, 2014) DAILY TECHNICAL RESISTANCES AND SUPPORTS CURRENT PRICE: 1.3736 RESISTANCES: 1.3762 1.3783 1.3798 SUPPORTS: 1.3702 1.3682 1.3664
Posted on: Wed, 26 Feb 2014 08:42:20 +0000
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