The single currency recovers the 1.1800 handle on Wednesday, pushing EUR/USD from the 1.1740/30 band.
EUR/USD stronger after US data
The greenback is suffering the disappointment from December retail sales, which contracted 0.9% inter-month vs. -0.1% expected; sales excluding autos also dropped more than estimated, 1.0%. Both prints came in lower than November’s advance of 0.4% and 0.5%, respectively. The pair is reacting accordingly, paring earlier losses and regaining the 1.1800 mark. Further US data showed export prices down 1.2% MoM and import prices falling 2.5% MoM. Next of note in the US docket will be the Fed’s Beige Book, although it’s unlikely to be a market mover.
EUR/USD key levels
The pair is now up 0.38% at 1.1817 with the next hurdle at 1.1862 (200-h MA) followed by 1.1871 (high Jan.12) and then 1.1897 (high Jan.7). On the downside, a break below 1.1700 (psychological level) would expose 1.1640 (low Nov. 2005) and finally 1.1376 (low Nov.2003).
EUR/USD stronger after US data
The greenback is suffering the disappointment from December retail sales, which contracted 0.9% inter-month vs. -0.1% expected; sales excluding autos also dropped more than estimated, 1.0%. Both prints came in lower than November’s advance of 0.4% and 0.5%, respectively. The pair is reacting accordingly, paring earlier losses and regaining the 1.1800 mark. Further US data showed export prices down 1.2% MoM and import prices falling 2.5% MoM. Next of note in the US docket will be the Fed’s Beige Book, although it’s unlikely to be a market mover.
EUR/USD key levels
The pair is now up 0.38% at 1.1817 with the next hurdle at 1.1862 (200-h MA) followed by 1.1871 (high Jan.12) and then 1.1897 (high Jan.7). On the downside, a break below 1.1700 (psychological level) would expose 1.1640 (low Nov. 2005) and finally 1.1376 (low Nov.2003).
