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26 Mar 2015
EUR/USD made fresh highs but, short lived - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the greenback retreated sharply this Thursday, only to jump higher in the American afternoon.
Key Quotes:
"The day started with a risk-off sentiment and commodities soaring, on news Saudi Arabia launched an air strike on Yemen arising tension in the Middle East that led to a sell-off in equities markets, and drove the EUR/USD to a fresh 3-week high of 1.1051."
"The fall in EUR for these last months, alongside with ECB's bond buying, was the reason European share markets rose to record highs, as a cheaper currency helped boost export relates equities, and the inverted correlation prevailed until the American session began."
"In the US, better-than-expected weekly unemployment claims, down to 282K last week helped the greenback claw back higher, whilst quietus came after the release of US Markit Services PMI figures, posting the sharpest rise in the sector for six months in March."
Key Quotes:
"The day started with a risk-off sentiment and commodities soaring, on news Saudi Arabia launched an air strike on Yemen arising tension in the Middle East that led to a sell-off in equities markets, and drove the EUR/USD to a fresh 3-week high of 1.1051."
"The fall in EUR for these last months, alongside with ECB's bond buying, was the reason European share markets rose to record highs, as a cheaper currency helped boost export relates equities, and the inverted correlation prevailed until the American session began."
"In the US, better-than-expected weekly unemployment claims, down to 282K last week helped the greenback claw back higher, whilst quietus came after the release of US Markit Services PMI figures, posting the sharpest rise in the sector for six months in March."