The Euro traded on much stronger sentiments in the last week and almost touched it’s highest in the last two months versus the US dollar. The increase in Germany’s business sentiment boosted the investor’s confidence over the single currency.
The pair EUR/USD reported the increase of 1.73 percent in the last week to 1.3243 on Friday. The pair is expected to find support at 1.3448 and likely to find resistance at 1.3786 which also happens to be its highest since November 22nd, 2010.
The list of events that could influence the trading of the pair EUR/USD for the week Jan 24th, 2011 to January 28th, 2011 are as follows:-
On Monday January 24th, 2011 report on activity in manufacturing and services sectors will be released by Germany and France and a comprehensive report will be also published for euro zone covering industrial new orders.
Data on German consumer climate by Gfk Research will be published in Germany while France will also report its official consumer spending data on January 25th, 2011.
United States will also report their official data on consumer confidence and industry data on house price on January 25th.
On Wednesday January 26th, 2011 the US Federal Reserve will report its Federal Funds Rate which will give a future outlook for interest rates in United States. Moreover US will also release the data on new home sales on Wednesday.
Preliminary report on consumer price inflation will be published by Germany on Thursday January 27th, 2011. Whereas key data on weekly jobless claims, durable goods orders, natural gas stockpiles and pending home sales will be published in United States.
On Friday January 28th, 2011 European Central Bank will report its data on private borrowing and M3 money supply while United States will publish the fourth quarter’s GDP. Moreover revised data on consumer sentiment & inflation expectations will be reported by University of Michigan.
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Daily forex trading news written by Rehan from DailyForexTrade.com
