Forex: EUR/USD Refuses Break Despite Italy Downgrade, Yen Runs on Promises
The new trading week opened with unresolved fundamental catalysts Monday, but key pairs like EURUSD, GBPUSD and USDJPY refused to reconcile the discrepancy. Perhaps the most tense situation exists for EURUSD. The pair is wedged between the imposition of a severe stimulus contrast and the possibility of a revived regional financial crisis. Meanwhile, both GBPUSD and USDJPY continue to run on expectations of stimulus without tangible efforts by the BoE and BoJ respectively. In today's video, we discuss how stimulus expectations are creating pressure in the FX market and how it could eventually spark a gold rally.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.