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Russia expels 60 US diplomats

russian president | EconAlerts

Russia expelled 60 diplomats on Thursday and ordered the US ambassador to close the St. Petersburg consulate. White House officials stated that Russia’s response was not anticipated and that it marked a deterioration of their relationship. Worries increased, as the Kremlin spokesman stated that Moscow is closely watching any ideas floated by British PM Theresa May to limit the marketing of Russian debt by London. On other headlines, the UN Secretary-General Guterres, stated yesterday that the situation was “similar to a large extent, to what we lived in the cold war”. Overall, there could be a further escalation of the situation and more negative headlines could increase uncertainty. EUR/USD traded in a sideways manner yesterday between the 1.2355 (R1) resistance line and the 1.2230 (S1) support line. We might see the pair continue to trade in the same manner today, however with some bullish tones as the financial data due out today could support the common currency. Should the bulls take over the market we could see the pair breaking the 1.2355 (R1) resistance line and aim for the 1.2455 (R2) resistance level. On the other hand, should the bears take the reins we could see the pair breaking the 1.2230 (S1) support line and aim for the 1.2100 (S2) support barrier.

EUR/USD

EUR/USD 30/03/2018 | EconAlerts

  • Support: 1.2230(S1), 1.2100(S2), 1.1920(S3)
  • Resistance: 1.2355(R1), 1.2455(R2), 1.2680(R3)

North and South Korea to hold a summit

Media reported yesterday that North and South Korea will hold a summit on April the 27th. Other headlines stated that another summit between North Korea and Japan this time is also possible. Japanese officials stated though that the summit could depend also on the result of the previous summits. Especially concerns about the Kim- Trump meeting were expressed. As the climate seems to improve and various headlines support that notion, we could see uncertainty in the region slowly fade away. USD/JPY traded in a sideways manner yesterday with some bearish tones well between the 106.95 (R1) resistance line and the 105.55 (S1) support line. Please be advised that the pair broke the downward trend-line incepted since the 8th of March on Wednesday and seems to be on a correction phase. We see the case for the pair to continue to trade in that manner as financial data which came out early in the Asian morning were favorable for the JPY. Should the pair come under selling interest we could see it breaking the 105.55 (S1) support level. If the par finds fresh buying orders along its path we could see it breaking the 106.95 (R1) resistance level and aim for the 108.30 (R2) resistance zone.

USD/JPY

USD/JPY 30/03/2018 | EconAlerts

  • Support: 105.55(S1), 104.66(S2), 103.65(S3)
  • Resistance: 106.95(R1), 108.30(R2), 109.20(R3)

 

In today’s other economic highlights:

During today’s European morning we get France’s CPI (EU normalised) rate for March which is forecasted to accelerate. Other than that it’s expected to be a rather quiet Friday as Easter is drawing near.

 

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This information is not considered as investment advice or investment recommendation but instead a marketing communication. This material has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.


source: FXGiants

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