Wednesday, December 31, 2014

$EUR/USD approaches 2014 lows

After hovering around 1.2150 during a few hours $EUR/USD broke to the downside and printed a fresh daily low at 1.2130, approaching yesterday’s low that lie at 1.2122. 

Economic data from the US showed an increase of initial jobless claims from 281.000 to 298.000, above expectations of 290.000. Despite the worst-than-expected data $EUR/USD continued to move to the downside, making no rebound. 

The pair remains under pressure, trading slightly above daily lows, as the US dollar gained momentum across the board, with crude oil trading at fresh multi-year lows on the last trading day of 2014.