Forex: EUR/USD keeps the positive around 1.3030/40

FXstreet.com (Barcelona) - The single currency is trading unmolested in a narrow range between 1.3920/40 on Tuesday, giving away overnight gains when the cross reached session highs in the proximity of 1.3070.

“EUR/USD has moved higher after soft comments from Bernanke underlining that he is in no hurry to ‘exit’ the current QE programme. Hence, despite the jitters in the euro zone, the relative monetary policy between the ECB and the Fed remains positive for EUR/USD”, commented S.Roed-Frederiksenm Senior Analyst at Danske Bank.

At the moment, the pair is advancing 0.18% at 1.3034 with the next resistance at 1.3068 (hourly high Apr.9) ahead of 1.3107 (high Mar.15) and then 1.3115 (38.2% of Feb-Apr slide).
On the downside, a breach of 1.2963 (low Apr.8) would expose 1.2949 (high Apr.4) and finally 1.2919 (MA21d).

Apr 9, 2013

Forex: USD/JPY testing the 99.00 level

The USD/JPY has managed to eliminate a portion of its losses, which briefly made it one of today’s worst performers. However, in recent minutes, the pair has returned to familiar territory at the 99.00 level, testing this region during European trading Tuesday. At this juncture the cross is still suffering from a -0.43% loss though, firmly entrenched in negative territory.

Moody’s maintains a negative outlook on Spanish rating

Moody’s rating agency announced today that it maintains a negative outlook on Spain’s Baa3 credit rating. One of the main reasons for this decision was the agency’s conviction that the country will fail to reach the 4.5% deficit target fixed by the EU.