EUR/USD near one month low after Draghi’s speech to push the single currency lower Tensions over Ukraine weigh on the markets; Asian equities were mixed this morning. Overnight, Japan released a record trade deficit of its balance of payments, USD/JPY went above 102.00 level on expectations that the Bank of Japan will ease further. EUR/USD is currently making a healthy pullback following end of week down move driven by fundamental factor. From a technical prospective, we expect further downside potential; traders will favour short positions around 1.38. Last but not least, we have seen some interesting action on Gold this night, the Precious Metal has been smashed after a massive 231.5$ million notional futures contract sell-off. The shiny metal reached a low of 1277.36$/ounce before recovering and coming back to pre-sell-off level. Today the economic calendar will be rather light we do not expect much volatility on the FX market.
Posted on: Mon, 12 May 2014 07:53:05 +0000
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