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JAPAN HEADING TOWARDS A RECESSION

Yesterday, figures showed that Japan, the third largest economy in the world, is heading towards a recession. This added pressure on the EUR/USD as investors headed towards buying the American dollar as a safe haven.

EUR/USD remains neutral

The EUR/USD has been trading around the same level for the past few days. A base is being formed at around 1.2400, preparing the market for a breakout in either direction.

New Yearly Lows Likely For EUR/GBP

EUR/GBP shed 50 pips in the minutes following the ECB Press Conference, bouncing off a strong pivot line at 0.7863 in a strong statement that this downtrend has yet to be exhausted.

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