The short term appreciation of the USD after yesterday's liquidity injection was negated today, and EURUSD cross has set a new all time high of 1.55019. It will be interesting to see whether we get a break of resistance, in which case we can easily see EURUSD trading above 1.6.
to be updated...
Sentiment among German financial analysts and institutional investors unexpectedly brightened in March, but remained at historically low levels, a survey from the Center for European Economic Research, or ZEW, showed Tuesday.
The ZEW think tank's economic expectations index rose to -32.0 points from -39.5 points in February, beating economists' forecasts of a reading of -40.0 points. The indicator was well below its historical average of 30.3 points.
The outcome gave the euro a boost to trade at $1.5451 at 1020 GMT, compared with $1.5400 ahead of the data.
Source: Dow Jones Newswire
EURUSD trades relatively stable in the 1.51/52 range today, despite Eurogroup's Juncker being in the wires again saying: "- EUR overvalued in relation to other currencies, - JPY and YUAN undervalued, USD somewhere in between, - USD tends to be undervalued rather than correctly reflecting fundamentals." (Reuters / Market News Int).
I'm only speculating on small varieties, with a bid/ask spread of 2PIPs relatively minor moves can give small profits, so I went in at spike at 1.5218 and out again some 10 pips lower with 8 pip profit.
All in all it is a nice and slow Tuesday with some Microeconometics lectures and some trading to make the the day slightly more interesting.
