Eur/usd - page 132
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EURUSD initially tried to rally during yesterday session, but turned back around and close lower towards the end of the day, forming a doji candle. The range was pretty small though, so it appears that the breakdown is slowing down.
you are right i agree with that and today with lots of news from us we can see more down on the market
Yes of course , i agree wit that and we are waiting for that .
Cheers
I think dollar is losing momentum again
EUR/USD steady on upbeat U.S., euro zone data
Upbeat data in both the U.S. and the euro zone sparked demand for both the euro and the greenback on Thursday, which steadied the pair in late-morning trading.
In U.S. trading, EUR/USD was up 0.02% at 1.3465, up from a session low of 1.3438 and off a high of 1.3485.
The pair was likely to find support at 1.3399, the low from Nov. 21, 2013, and resistance at 1.3549, Monday's high.
The dollar firmed against the euro earlier after data revealed initial jobless claims in the U.S. fell to an eight-year low, though upbeat factory data out of Europe fueled demand for the single currency.
The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending July 19 declined by 19,000 to 284,000, down from the previous week’s total of 303,000.
Analysts had expected jobless claims to rise by 5,000 to 308,000 last week, and the positive numbers fueled speculation that the Federal Reserve may hike interest rates sooner than markets once anticipated.
While the Fed is seen closing its monthly bond-buying stimulus program likely in October, uncertainty as to how much time will pass from that point until rate hikes begin makes the dollar move on both positive and negative indicators.
A separate report showed that U.S. new home sales dropped by 8.1% to 406,000 units last month, worse than expectations for a decline of 5.3%, pointing to underlying weakness in the housing sector, which capped the dollar's advance along with cheery European factory data.
A preliminary reading of the euro zone manufacturing purchasing managers’ index rose to a two-month high of 51.9 for July, beating market calls for a 51.7 reading. The bloc’s services PMI jumped to a 38-month high of 54.4, beating expectations for a 52.7 reading.
Private sector activity in Germany also expanded in July, with the country’s services PMI jumping to a 37-month high. The French service sector also expanded this month, but the contraction in the country's manufacturing sector deepened.
Ongoing concerns that conflicts in Ukraine and Gaza will dampen global economic recovery weighed on both currencies.
Elsewhere, the euro was up against the pound, with EUR/GBP up 0.41% at 0.7932, and up against the yen, with EUR/JPY up 0.31% at 137.07.
The pound softened the Office for National Statistics reported that U.K. retail increased by 3.6% compared with June 2013 and by 0.1% compared with May 2014.
Markets were expecting a 3.9% yearly gain and a 0.3% monthly increase.
On Friday in the euro zone, Germany is to publish the Gfk report on consumer climate and the Ifo report on business climate.
The U.S. is to round up the week with data on durable goods orders.
source
Eurozone Private Sector Rebounds In July
The Eurozone private sector growth rebounded at the start of the third quarter from a six-month low as strong expansion in Germany neutralized the contraction in France.
The flash composite output index rose to 54 in July to match April's three-year high level, flash survey data from Markit Economics showed Thursday. A reading above 50 indicates expansion in the private sector. The score was expected to remain unchanged at 52.8 in July.
At 54.4, the services Purchasing Managers' Index, or PMI, climbed unexpectedly to a 38-month high from 52.8 in June. It was forecast to fall to 52.7. At the same time, the manufacturing PMI rose marginally to 51.9 from 51.8 in June, while it was expected to fall to 51.7.
Many companies reported that business had picked up again in July after an unusually high number of holidays and a knock-on effect of mild winter weather had depressed activity in previous months.
But growth in new orders slowed slightly in July, especially in manufacturing, as geopolitical concerns rise amid escalating crisis in Ukraine.
Growth of service business activity accelerated to the fastest for just over three years, while growth of output and new export orders in manufacturing picked up only marginally. According to Markit, employment rose only moderately in both sectors due to the lack of clarity on the economic outlook and pressure on costs.
Average input prices in manufacturing rose for a second successive month in July, rising at the steepest pace for the seventh month. Service sector input costs also increased, albeit to a lesser extent than in June. Output prices, meanwhile, continued to fall with the rate of decline accelerating slightly from June.
Although the flash index suggested that Eurozone activity picked up at the start of the third quarter, it is unlikely to alleviate concerns that the recovery is already running out of steam, Jessica Hinds, a European Economist at Capital Economics, said.
Eurozone recovery will likely remain a gradual process as a number of significant growth constraints remain which are currently being augmented by the heightened geopolitical tensions, IHS Global Insight Chief UK Economist Howard Archer observed.
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German Gfk consumer climate 9.0 vs. 8.9 forecast
Germany’s Gfk consumer climate rose unexpectedly last month, data showed on Friday.
In a report, research group Gfk said that its index of Germany’s consumer climate rose to 9.0, from 8.9 in the preceding month.
Analysts had expected Gfk consumer climate to remain unchanged at 8.9 last month.
EURUSD went back and forth during yesterday session, essentially settling with a wide range neutral candle. The market still looks a very weak and as a result and is taking a pause. We should see some more consolidation between 1.3437 and 1.3484.
there is a doij on daily chart yesterday on eur/usd it mean we can see regain today , just need to be careful
I'm selling below the dojo low price I don't think EUR is gaining strength at all
EUR/USD remains near 8-month lows
The euro remained near eight-month lows against the U.S. dollar on Friday, as growing optimism over the strength of the U.S. economic recovery supported the greenback, while poor German business climate data still pressured the single currency lower.
EUR/USD hit 1.3428 during European afternoon trade, the pair's lowest since November 2013; the pair subsequently consolidated at 1.3441, slipping 0.16%.
The pair was likely to find support at 1.3298 and resistance at 1.3485, Thursday's high.
The greenback strengthened further after official data showed that U.S. durable goods orders rose 0.7% last month, beating expectations for a 0.5% gain, after a decline of 1% in May, whose figure was revised from a previously estimated 0.9% fall.
Core durable goods orders, which exclude transportation items, advanced by 0.8% in June, compared to expectations for a 0.6% rise, after a 0.1% downtick in May, whose figure was revised from a previously estimated flat reading.
The data came after a report on Thursday showed that U.S. jobless claims fell to the lowest level in more than eight years last week, fuelling speculation over the timing of a possible rate hike by the Federal Reserve.
Meanwhile, sentiment on the euro remained vulnerable after the Ifo Institute for Economic Research reported that its German business climate index fell to a nine-month low of 108.0 this month, from a reading of 109.7 in June. Analysts had expected the index to tick down to 109.4 in July.
A separate report showed that the Gfk German consumer climate index rose to a seven-and-a-half year high of 9.0 this month, from a reading of 8.9 in June. Analysts had expected the index to remain unchanged in July.
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