October 24 2013

In the trading room today: Can Softer Data and ECB Talk Cap the EUR Gains? As the EUR continues its rally against the USD following the bullish breakout earlier in the week, we examine today’s weaker than expected economic reports from the euro-zone and ponder if softer data coupled with the talk of more easing by the ECB could keep the euro gains in check, we analyze the latest trend developments in the EUR/USD currency pair, we take a look at the pullback in the GBP/USD pair, we note a support level for the USD vs JPY, we highlight the market’s reaction to the Euro-zone Manufacturing and Services PMI and the U.S. Jobless Claims, we discuss new forecasts from Goldman Sachs, Morgan Stanley and Citigroup, and prepare for the trading session ahead.