Daily Market Review - 04/29/2014

EUR/USD

As has been mentioned in the overview the Euro aspires to test resistance at 1.3900. The pair has been steadily appreciating since April 21 and looks quite confident.

USD/JPY

The pair swiftly approaching the upside target at 102.70. Current level was attained on April 24. So chances of testing and successful breaking of the aforementioned goal level are quite high.

GBP/USD

The Pound is getting back on track after yesterday’s dip. In spite of that fall overall picture for the pair is bullish. The Pound is about to face upward resistance which will determine whether the ascent will continue.

Market Overview

The main currency pair on Tuesday in the first part of the trading day continues growth against the background of positive decision of the Fed of the USA.

The Euro looks to be ready to appreciate further as the growth have been continuing sixth session in a row. At that time traders are not afraid of coming meeting of the Fed: investors are set positively and are waiting for optimistic signals form Janet Yellen.

Recently it has been found out that the amount of unfinished contracts on real estate purchase according to NAB surveillance grew in March by 3.7% after a half percent contraction a month earlier. In the comments specialists of the agency point out that the fact of the recovery is quite informative as it relies on the objective survey of the population. Overall these indices might be used as the basis of improvement of real estate market.

Usually for closing the contract on real estate purchase 1.5-2 months are needed, that’s why such statistics presents quite objective signals.

While bulls are aiming at 1.3900 in the EURUSD pair and the target will be taken as soon as news background allows that. Today it is worthy of paying attention to publication of data on Consumer confidence in April in the USA

Economic Calendar

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