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EUR Daily News
Euro Set to Extend Gains Today
Following a dramatic return to risk taking in the market yesterday, the euro saw significant gains against its major counterparts throughout the day. In addition to the dollar, the euro saw bullish movement against both the yen and Swiss franc.
The EUR/JPY jumped some 130 pips yesterday before staging a mild downward correction in overnight trading. Currently the pair stands at 107.60. The EUR/CHF moved up over 100 pips, and is currently holding onto its gains. The pair has been trading around the 1.3015 price level throughout the night.
Investors are eagerly awaiting the news from the ECB press conference, scheduled to take place at 12:30 GMT. While an increase in euro zone interest rates are unlikely, the press conference will provide an opportunity for the ECB to give any predictions regarding the current state of the European economic recovery. Any positive sentiment will likely help the euro extend its recent gains in afternoon trading.
In addition, euro pairs will likely be affected by the latest US Unemployment Claims figure. Better than expected unemployment data should lead to an increase in risk taking and boost the euro against its main currency rivals.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/02 | ||||||||
| 10:00 | EUR |  PPI | m/m | 0.3% | 0.2% | 0.2% |  | |
| 10:00 | EUR | Revised GDP | q/q | 1.0% | 1.0% | 1.0% | | |
| 12:45 | EUR | Minimum Bid Rate | 1.00% | 1.00% | 1.00% |  | ||
| 13:30 | EUR | ECB Press Conference | * | * | * | | ||
