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By: Daniel Gant
February 19th 2014 3:35pm GMT, London UK

The EUR/USD pair increased yesterday above 1.3760 as another U.S. data came out unexpectedly low. The price is now as high as it was in the end of December. The pair reacted to the data before FOMC Meeting Minutes will be released today at 7.00PM (GMT). Investors are concern about possible change in monetary policy and slower pace of withdrawals from monetary stimulus. Before the report, at 1.30PM (GMT), we should keep an eye on U.S. Building Permits and PPI data. The trend is slightly bullish but might change as the fundamentals data comes out.

On Tuesday the GBP/USD pair slightly decrease and finish the day around 1.6685. The U.K. CPI showed another decrease and slightly pushed the pair down but as the U.S. Dollar reacted on the negative U.S. Data this movement down was mainly erased. From previous data we can see that this event is usually bullish when the pair adding more than 70 pips within 30 minutes. The pair will be also affected by expectation over the U.S. FOMC report which will be posted at 7.00PM (GMT).

The USD/JPY pair erased part of its previous movement up caused by BoJ Report where BoJ decide to boost its monetary stimulus. The pair declined to 102.15 area mainly due to weaker U.S. Dollar which is going down before the FOMC Meeting Minutes. Yesterday BoJ Governor Kuroda said that he want to put downward pressure on bond yields. That may cause to move down Japanese stock as well. Today we should pay attention to the FOMC report and their tapering strategy.

The price of Gold slid down from almost $1,330 an ounce to $1,313 an ounce yesterday as traders closed their long position after the price reached its 3 ½ month maximum. The price then started to move sideways and currently is traded around $1,316 an ounce. Gold as a safe-haven asset would benefit if Fed decide to pause tapering of the monetary stimulus due to weaker economic data. However, if the report which will be released today at 7.00PM (GMT) will support the same pace of tapering ($10 billion/month) the price might drop back below 1,300.

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Daniel Gant
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Daniel Gant

Broker at GOptions
My strategies have been maintained and reworked for the last four years. Win loss accuracy and a stable method of volume production has insured my clients inside my personal portfolio success, not to mention the education, guides and management sessions that I teach daily.

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