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EUR/USD spot month-end might matter today
Today is the spot-end month for major FX pairings. That means all trades placed today will settle on April 30- the last day of the month. All last week the EUR/USD held onto to the 1.13 handle, despite a number of efforts to push it below that level. The Euro based out at 1.1308 and seemed to build a platform base. On Friday a series of higher intraday lows took it back towards the 1.14 as the European markets drew to a close. The EUR/USD later ended the week in the US at 1.1365. Overnight and so far this morning it has held a relatively tight range, covered by 1.1340 to 1.1384. The questions for today: is there dollar demand for the month-end, or is it the opposite? So, with that in mind we should keep an eye on the 4pm London fix later and indeed the top of any hour during the day. The EUR/USD is right now at 1.1376
Market News
All News-
Dollar continues to weaken leading into the 4pm London Fix- EUR/USD straddles 1.1150
The dollar has continue to weaken this afternoon. The GBP/USD is still battling to overcome 1.3250 and the USD/JPY has so far rejected any lasting... -
US stocks mixed in early trading- Dow Jones still in the red
The US stock markets have been open for around 20 minutes now and so far it has been an early session of mixed fortunes. The Dow Jones is still in the... -
GBP/USD making some progress now towards 1.3250
Following on from the previous update looking at the price action in the EUR/USD we see the GBP/USD has charted a slightly steadier route higher...
