30 Jul 2013
EUR/USD muted after EMU data
FXstreet.com (Edinburgh) -The single currency posted no reaction after the EMU data on Tuesday, with the EUR/USD keeping the 1.3270 region so far.
EUR/USD keeping the range
EMU’s Consumer Confidence matched expectations at -17.4 in July, a tad better than June’s -18.8. Business Climate and Economic Sentiment followed suit, bettering to -0.53 from -0.67, and to 92.5 from 91.3, respectively. According to researchers at HSBC, “We expect the ECB to remain in a wait-and-see mode, keeping the refi rate on hold at 0.5% and the deposit rate at zero at this meeting… Compared to the Fed and the BoE this could be relatively hawkish although the rhetoric may be deliberately dovish in an attempt toprevent a rise in long-end yields”.
EUR/USD key levels
As of writing the pair is advancing 0.04% at 1.3268 with the next resistance at 1.3297 (high Ju.26) followed by 1.3302 (high Jun.20) and finally 1/3325 (low Jun.18). On the flip side, a breakdown of 1.3247 (low Jul.30) would target 1.3239 (low Jul.29) en route to 1.3208 (high Jul.11).
EUR/USD keeping the range
EMU’s Consumer Confidence matched expectations at -17.4 in July, a tad better than June’s -18.8. Business Climate and Economic Sentiment followed suit, bettering to -0.53 from -0.67, and to 92.5 from 91.3, respectively. According to researchers at HSBC, “We expect the ECB to remain in a wait-and-see mode, keeping the refi rate on hold at 0.5% and the deposit rate at zero at this meeting… Compared to the Fed and the BoE this could be relatively hawkish although the rhetoric may be deliberately dovish in an attempt toprevent a rise in long-end yields”.
EUR/USD key levels
As of writing the pair is advancing 0.04% at 1.3268 with the next resistance at 1.3297 (high Ju.26) followed by 1.3302 (high Jun.20) and finally 1/3325 (low Jun.18). On the flip side, a breakdown of 1.3247 (low Jul.30) would target 1.3239 (low Jul.29) en route to 1.3208 (high Jul.11).