Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Euro firms up but ECB easing threat weighs

Published 05/12/2014, 02:39 AM
Updated 05/12/2014, 02:39 AM
Euro stabilizes but ECB easing threat weighs

Euro stabilizes but ECB easing threat weighs

Investing.com - The euro firmed up against the dollar on Monday, stabilizing after posting steep losses in the previous two sessions, but gains were held in check amid concerns that the European Central Bank could ease monetary policy as soon as next month.

EUR/USD was last trading at 1.3766, but was still close to the one-month trough of 1.3744 reached late Friday.

The pair was likely to find support at 1.3695 and resistance at 1.3800.

The euro fell from two-and-a-half year highs against the dollar on Thursday after ECB President Mario Draghi said the banks is “comfortable” with acting to shore up growth and stop inflation from falling too low at its next meeting in June.

The ECB left rates on hold on Thursday, as widely expected.

Meanwhile, investors remained cautious after pro-Russian separatists claimed victory in a weekend referendum on self-rule in eastern Ukraine, fuelling fears that the country is sliding closer to civil war. The vote has been condemned by Ukraine’s government and the West.

The euro was also higher against the yen, with EUR/JPY rising 0.14% to 140.27, up from Friday’s two-month lows of 139.87.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.