13 May 2015
EUR/USD stuck in the mid-1.12s
FXStreet (Edinburgh) - The European currency manages to keep the trade in the upper bound of the daily range so far, with EUR/USD hovering over 1.1245/50 so far.
EUR/USD focus on EMU’s data, ECB
Spot has recovered from the knee-jerk to the area of 1.1230 following the poor results from the German GDP figures during the first quarter, although it will remain under pressure in light of the upcoming EMU’s GDP figures and Industrial Production, ahead of the ECB Accounts of the last meeting.
On the USD-side, US Retail Sales are also due. Consensus expects headline sales to have expanded at a monthly pace of 0.2% in April, while sales excluding Autos are seen at 0.5%.
EUR/USD levels to watch
At the moment the pair is advancing 0.35% at 1.1254 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).
EUR/USD focus on EMU’s data, ECB
Spot has recovered from the knee-jerk to the area of 1.1230 following the poor results from the German GDP figures during the first quarter, although it will remain under pressure in light of the upcoming EMU’s GDP figures and Industrial Production, ahead of the ECB Accounts of the last meeting.
On the USD-side, US Retail Sales are also due. Consensus expects headline sales to have expanded at a monthly pace of 0.2% in April, while sales excluding Autos are seen at 0.5%.
EUR/USD levels to watch
At the moment the pair is advancing 0.35% at 1.1254 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).