Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

EUR Recovers Losses As Markets Price In Risk

ByEasy Forex
Published 03/25/2013, 05:03 AM
Updated 03/09/2019, 08:30 AM

The euro (EUR) recovered previous losses versus the US dollar (USD) after markets better priced in the risks associated with the Cypriot bail-in. The pair moved back up to 1.2969, which looks like its new resistance area, before correcting to 1.2935. The debt ridden island is expected to come up with a plan B this evening. In other news, the Italian government has yet to form a government. The country will play a key role in restoring confidence in the European markets should they come to a swift resolution.

  • West Texas Intermediate Crude (OIL): the American standard in crude oil, is moving above 93.07 after yesterday’s US crude oil inventories came out negative.
  • The US 500 (SPI): tracks the 500 biggest listed equities in the US, corrected after reaching all-time highs. The index is currently moving at 1547 after finding strong support at 1530.
  • Weekly option volatilities for the EUR/USD picked up from 11.85 to 13.95 as fears exacerbate and push options’ premiums upwards.
Movers And Shakers

USDJPY

The US dollar (USD) gained substantial ground, touching 96.12 before correcting to 95.75 against the Japanese yen (JPY). The pair looks to be touching higher highs in the long run as Japan’s new central bank head, Haruhiko Kuroda, is expected to expand the monetary base further to defeat deflation. The American economy is moving steadily into recovery with rate reduced in every new release.

Outlook
EUR/USD Pivot Point 1.2880 with a preference to go LONG at 1. 2880.
Sentiment is 42% of deals to buy EUR

USD/JPY Pivot Point 95.35 with a preference to go LONG at 95.35.
Sentiment is 40% of deals to buy USD

GBP/USD Pivot Point 1.5065 with a preference to go LONG at 1.5065.
Sentiment is 65% of deals to buy GBP

AUD/USD Pivot Point 1.0340 with a preference to go LONG at 1.0340.
Sentiment is 58% of deals to buy AUD

GOLD Pivot Point 1600 with a preference to go LONG at 1600.
Sentiment is 71% of deals to buy GOLD

OIL Pivot Point 93.90 with a preference to go SHORT at 93.90.
Sentiment is 76% of deals to buy OIL

US 500 Pivot Point 1553 with a preference to go LONG at 1553.
Sentiment is 24% to buy US 500

UK 100 Pivot Point 6340 with a preference to go LONG at 6340.
Sentiment is 19% to buy UK 100

Calendar
GBP – Retail Sales m/m at 09:30(GMT) Forecast 0.5%

USD – Unemployment Claims at 12:30(GMT) Forecast 343K

USD – Philly Fed Manufacturing Index at 10:00(GMT) Forecast -1.6

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.