Back
10 Dec 2014
EUR/USD rises toward 1.2450
FXStreet (Córdoba) - EUR/USD printed a fresh daily high at 1.2445 and continued to moved toward yesterday’s highs that lie at just two pips above.
The pair remained near daily highs, consolidating gains and headed toward the third gain in a row and the strongest close since December 1 as stocks in Wall Street accelerated the decline.
The Dow Jones was falling 1.25%, the Nasdaq 1.21% and the S&P 500 1.20% while crude oil was again plunging, dropping more than 4%. Greenback was losing ground versus the yen and european rivals but strengthened against commodity currencies.
EUR/USD above 1.2400 ahead of T-LTRO
Tomorrow the results of the second T-LTRO will show how much did banks take from the European Central Bank. According to Marc Chandler, Global Currency Strategy Team at BBH, the take-down is expected to be stronger than the previous. “Banks are expected to draw down about half of the 317 bln euros that the have the potential to borrow. The less the participation, the stronger will be the calls for the ECB to engage in a sovereign bond purchase program to make good its intention to expand its balance sheet by roughly one trillion euros”.
The pair remained near daily highs, consolidating gains and headed toward the third gain in a row and the strongest close since December 1 as stocks in Wall Street accelerated the decline.
The Dow Jones was falling 1.25%, the Nasdaq 1.21% and the S&P 500 1.20% while crude oil was again plunging, dropping more than 4%. Greenback was losing ground versus the yen and european rivals but strengthened against commodity currencies.
EUR/USD above 1.2400 ahead of T-LTRO
Tomorrow the results of the second T-LTRO will show how much did banks take from the European Central Bank. According to Marc Chandler, Global Currency Strategy Team at BBH, the take-down is expected to be stronger than the previous. “Banks are expected to draw down about half of the 317 bln euros that the have the potential to borrow. The less the participation, the stronger will be the calls for the ECB to engage in a sovereign bond purchase program to make good its intention to expand its balance sheet by roughly one trillion euros”.