Forex: Dollar little changed after FOMC minutes
Forex: Dollar little changed after FOMC minutes
Tue, Nov 22 2011, 18:55 GMT | FXstreet.com
FXstreet.com (Córdoba) - The Dollar showed little reaction after the release of the November FOMC minutes which were released early.
EUR/USD continues to trade at the 1.3520 area, while GBP/USD remains steady around 1.5640. USD/JPY has edged somewhat lower to the 76.95 area where it is currently trading.
Currencies linked to commodities moved slightly higher versus the Greenback, with AUD/USD climbing to the 0.9865 zone, while the USD/CAD slid to 1.0345.
The Federal Reserve on Nov 2 held interest rates unchanged and decided to continue its "Twist" program. FOMC minutes showed a "few" FOMC members said the economic outlook "might warrant additional policy accommodation". Fed members also discussed the possibility of setting a formal target for inflation.
The minutes were scheduled for 19:00GMT but a news wire broke the embargo time.
Forex: EUR/USD bounces as IMF unveils credit line
FXstreet.com (Córdoba) - The Euro and other risky assets received a boost after the IMF announced a set of reforms designed to bolster the flexibility and scope of the Fund's lending for crisis prevention and resolution.
EUR/USD rose near 50 pips and reached the 1.3540 area as US stocks bounced off session lows. At time of writing, the pair is quoting at the 1.3530 zone, 0.3% above its opening price.
According to the Talking-Forex.com team, technical studies indicate that supports are seen at 1.3421, 1.3346 and then at the 21Day Lower Bollinger Level at 1.3311. On the other hand, resistance levels are seen at 1.3641 and then at the 55DMA line at 1.3678.
EUR/USD Nov 22 at 19:02 GMT
1.3520/21 (0.2335%)
H 1.3570 L 1.3470
S3 S2 S1 R1 R2 R3
1.3445 1.3479 1.3513 1.3519 1.3553 1.3587