Date : 30th October 2014
EURUSD DROPPED SHARPLY AFTER THE FOMC STATEMENT. SERIES OF HIGH IMPACT US RELEASES ON TAP TODAY.
EURUSD dropped yesterday and closed at 1.2635. During its monthly monetary policy meeting the United States Federal Reserve agreed to end its asset-purchase program. Fed kept its benchmark interest rate unchanged at 0.25 percent, but stated that if the US economy improves faster than expected the first rate hike might come sooner than expected.
The European Central Bank revealed in its quarterly bank lending survey that the banks in the Eurozone had eased the loan standards to the private sector in the 3rd quarter of 2014.
Investors are now looking forward for the Advance GDP data, the Unemployment Claims and the speech of the Fed Chair Janet Yellen due from the United States later today.
Support for the EURUSD is seen at 1.2565 and resistance is seen at 1.2667.
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