A pensive start for EUR/USD

With the chance of market-moving comments from Ben Bernanke later in the day, EUR/USD looks uncertain as to which direction to take.

Over his tenure as Federal Reserve chairman, Ben Bernanke has grown a reputation for making conflicting statements in quick succession. It is this reputation that has seen the currency markets nervously tread water this morning, as there is the very real possibility that on the second day of his testimony to the US senate he will contradict much of what he said yesterday.

Of course with a plethora of distractions it is possible traders are merely pre-occupied by one or all of the golf Open Championship, the Tour De France or the second Ashes Test.

Apart from the ‘open to interpretation’ comments about tapering, Mr Bernanke did touch on the global policies of governments towards their own currencies, and the much-anticipated currency wars that are arguably yet to fully materialise. Following similar comments from the G20 and the G10, it appears that the US is fairly relaxed with the policies that the Japanese government has been employing, and at this point in time do not feel that any action is required.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.