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11 Mar 2015
EUR/USD: Greenback dominates once again - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the dollar stands as the daily winner once again.
Key Quotes:
"The European currencies sharply lower against the American currency, followed closely by commodity ones."
"The ECB bond buying program that began this last Monday, has sent European yields to record negative lows, as German two-year Schatz yields fell to a record low of minus 0.241%, while French two-year yields hit a low of minus 0.149%. By opposition, US yields are up around 2.10%, the main cause behind EUR weakness and USD run."
"Furthermore, political woes in Greece have been generating uncertainty among investors, which dropped the common currency in search of more profitable assets. The calendar has been pretty light so far this week, but during this Thursday it will become more active, with the release of inflationary readings in Germany, France and Spain, alongside with the Euro zone industrial production figures."
"In the meantime, the short term technical picture for the EUR/USD shows that the pair remains extremely oversold, as in the 1 hour chart, the RSI stands around 22 and the Momentum indicator well below its mid-line, while the 20 SMA in the same time frame, heads strongly south above the current price."
Key Quotes:
"The European currencies sharply lower against the American currency, followed closely by commodity ones."
"The ECB bond buying program that began this last Monday, has sent European yields to record negative lows, as German two-year Schatz yields fell to a record low of minus 0.241%, while French two-year yields hit a low of minus 0.149%. By opposition, US yields are up around 2.10%, the main cause behind EUR weakness and USD run."
"Furthermore, political woes in Greece have been generating uncertainty among investors, which dropped the common currency in search of more profitable assets. The calendar has been pretty light so far this week, but during this Thursday it will become more active, with the release of inflationary readings in Germany, France and Spain, alongside with the Euro zone industrial production figures."
"In the meantime, the short term technical picture for the EUR/USD shows that the pair remains extremely oversold, as in the 1 hour chart, the RSI stands around 22 and the Momentum indicator well below its mid-line, while the 20 SMA in the same time frame, heads strongly south above the current price."