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EUR/USD steady in tight range for the time being
The EUR/USD has essentially traded a range so far this week that is tight by any standards. The range has held inside 1.1030 to 1.1070 since early yesterday morning and right now shows little appetite to extend outside of that. Of course it may well not be the case by the close of play on Friday evening, given the important upcoming US economic releases. The problem for the Euro is that it is positively impacted by the outlook for a Fed rate cut later this month (September 18), but at the same time dented by the prospect of the ECB matching that on September 26. Ahead of those decisions we have the more immediate impact of the US data over the next 2-3 days which might be more immediately relevant. The EUR/USD closed last night in the US at 1.1043. The range seen so far today has been covered by 1.1039 to 1.1063. It is just now trading at 1.1057
Market News
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USD/JPY on the drift lower again as markets wait nervously
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US stocks open in the red- check out the early price action in the Dow Jones
The US stock markets have just kicked off the new week and it has been a lower start to the day for the three major indexes. As noted here much... -
No sign of any rebound for the GBP/USD- Pound sets fresh session lows at 1.3060
The dollar was the best performing major currency on Friday and no wonder, because the US September Jobs data ensured a really positive weekly close...
