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Cozfx: Interest rate hike by mid 2015 fairly “reasonable”

Discussion in 'Analisa Fundamental' started by harryer, Mar 11, 2014.

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  1. harryer

    harryer Member

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    Cozforex: On Friday, EUR rise 0.06% against the USD and closed at 1.3873, as easing tensions on Ukraine and lingering optimism on the growth-outlook of the Euro-zone economy improved traders’ appetite for risk-taking. Meanwhile, an upbeat rise in the German industrial production data for January also benefitted the Euro-zone’s common currency.

    In the US, the New York Fed President, William Dudley hinted that, despite the improving economic condition of the US economy, the US Fed would not back-off from its highly accommodative policy stance. Furthermore, he was optimistic about the long-term recovery prospect of the nation and opined that market speculation for an interest rate hike by the mid of 2015 seems “reasonable.”
    On the economic front, A report showed that trade deficit in the US widened more-than-expected to $39.10 billion in January, from a deficit of $38.98 billon, registered in the preceding month.
    Separately, data revealed that the US consumer credit registered a rise of $13.7 billion in January, failing to meet market projections for a rise of $14.0 billion and compared to an increase of $15.9 billion recorded in December.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said, EUR/USD is predicted to find support at 1.3852, and a drop through could take it to the next support line of 1.3819. Meanwhile, the pair is predicted to find its first resistance at 1.3917, and a rise through could take it to the next resistance line of 1.3949.

    Traders keenly await Euro-zone’s Sentix investor confidence data for further cues in the Euro.

    (COZ forex UK)
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