Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - EUR/USD at 4-month highs before Fed

ForexJun 18, 2013 10:13AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Investing.com - The euro was trading at four-month highs against the dollar on Tuesday as markets looked ahead to the outcome of the Federal Reserve’s keenly anticipated policy setting meeting on Wednesday.

EUR/USD hit 1.3400 during U.S. morning trade, the pair’s highest since February 20; the pair subsequently consolidated at 1.3393, up 0.21% for the day.

The pair was likely to find support at 1.3325, the session low and resistance at 1.3434, the high of February 20.

Investors were looking ahead to the Fed’s rate statement and press conference on Wednesday amid uncertainty over the bank’s next move after Chairman Ben Bernanke said last month the bank could begin to taper asset purchases if the economy continued to improve.

Official data on Tuesday showed that U.S. consumer prices rose in line with expectations in May, giving the central bank leeway to continue its easing program.

The Labor Department said consumer price inflation rose 1.4% from a year earlier in May, in line with forecasts and up from 1.1% in April.
Core inflation, which excludes food and energy costs, rose 0.2% in May, also in line with expectations.

Consumer prices rose 0.1% in May from a month earlier, slightly below expectations for a 0.2% increase.

In a separate report, the Commerce Department said the number of building permits issued in the U.S. fell 3.1% in May to a seasonally adjusted 0.974 million, worse than expectations for a decline of 2.8% to 0.975 million units.

U.S. housing starts rose by 6.8% last month to hit a seasonally adjusted 0.914 million, below expectations for an increase of 11.4% to 0.950 million.

In the euro zone, a report showed that the ZEW index of German economic sentiment rose to 38.5 in June from May’s reading of 36.4. Analysts had expected the index to rise to 38.1.

The report said the German economy is likely to slowly pick up speed in the second half of this year.

The euro shrugged off comments by European Central Bank President Mario Draghi, who said Tuesday that the bank was ready to use interest rates and non-standard measures to shore up growth in the euro zone economy.

The single currency extended gains against the yen and the pound, with EUR/JPY advancing 1.20% to 127.82 and EUR/GBP rising 0.86% to 0.8575.





Forex - EUR/USD at 4-month highs before Fed
 

Related Articles

Aussie rallies as FX market risk appetite improves
Aussie rallies as FX market risk appetite improves By Reuters - Dec 07, 2021 1

By Saqib Iqbal Ahmed NEW YORK (Reuters) - Easing Omicron COVID-19 variant worries and a timely booster shot of Chinese stimulus helped lift riskier currencies on Tuesday with the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email