15 Jul 2015
EUR/USD: Dropping and maintains bearish bias - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD pair fell down to 1.0929 during the American afternoon, as the daily background put the EUR under selling pressure, whilst the USD got a boost from data and FED´s Yellen.
Key Quotes:
"In Europe, the Greek Parliament has not reached an agreement by the US close, and has until midnight to decide whether or not to accept Tsipras agreement with its European pairs."
"In the US on the other hand, the Producer Price Index for final demand advanced 0.4% in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Yearly basis, the index moved down 0.7% , the fifth straight 12-month decrease, although better than the 0.9% expected decline."
"The Empire State Manufacturing Survey indicated that business conditions improved, climbing to 3.9, whilst Janet Yellen said before the Congress, that the Central Bank is likely to hike rates this year. She also advised that a sooner rate hike may lead to a slower pace in tightening. The pair managed to bounce from the mentioned daily low before the US close, but maintains the bearish bias..."
Key Quotes:
"In Europe, the Greek Parliament has not reached an agreement by the US close, and has until midnight to decide whether or not to accept Tsipras agreement with its European pairs."
"In the US on the other hand, the Producer Price Index for final demand advanced 0.4% in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Yearly basis, the index moved down 0.7% , the fifth straight 12-month decrease, although better than the 0.9% expected decline."
"The Empire State Manufacturing Survey indicated that business conditions improved, climbing to 3.9, whilst Janet Yellen said before the Congress, that the Central Bank is likely to hike rates this year. She also advised that a sooner rate hike may lead to a slower pace in tightening. The pair managed to bounce from the mentioned daily low before the US close, but maintains the bearish bias..."