Eur/usd - page 417
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The dollar managed to recover after reaching a 5-month low on Thursday. US currency stopped its down movement, supported by strong data on employment in non-agricultural sectors of the US. New jobs for March reached 215 000. The expectations of economists was for 205 000. The unemployment rate, however, rose to 5%. It was expected to remain unchanged at 4.9%. The data came after the weakest quarter for the dollar in five years.
Following the publication of the data, the euro fell to 1.1335 after earlier failed to rise to 5-month high at 1.1437.
Spanish Services Blossom in Spring: March PMI The Spanish services sector was at it busiest in four months in March and at the same time booked a 29th month in expansion, data from Markit Economics showed on Tuesday.
The services PMI in the euro zone's fourth largest economy climbed to 55.3 points in March, up from analysts' expectations of a rise to 54.5 points in the reported month.
The gauge has now been in expansion since October 2013, when the data last showed contraction in the sector with a reading of 49.6.
"The pick-up in service sector growth in March is something of a relief following a slowdown in previous months, and suggests that the Spanish economy was able to maintain forward momentum during the first quarter of the year. Elsewhere, while output prices were raised for the first time in five months, there is still little evidence of any meaningful inflationary pressure returning to the sector," Andrew Harker, an economist at Markit and the author of the report, wrote on Tuesday.
Furthermore, the data confirmed the steady activity in the Spanish services sector, as PMI index is considered one of the most influential economic indicators with strong predictive ability for economic conditions.
Despite the fact that the services PMI indicator in the Iberian country started this year at levels hovering near a one-year low, the index still firmly stands above the 50-points 'growth' mark.
The PMI for services reflects the views of purchasing managers in the services sector on the status of sales, employment, as well as their outlook, and the data is seasonally adjusted.
read more
The euro retreated from the 1.14 grip and fell to 1.1388 ahead of the PMI data.
Yesterday EURUSD went back and forward without any clear direction with a narrow range, creating an inside day and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting lack of momentum plus indecision among the traders.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the previous swing high at 1.1342 (support), the 10-day moving average at 1.1305 (support), and daily support at 1.1237.
Fundamentals are impacting EUR/USD today driving its price down today due to weakness in the European markets. Main support zone remains 1.1340, main resistance 1.1410.
Interesting levels to watch for:
Support: 1.1290; 1.1070; 1.0790;
Resistance: 1.1435; 1.1485; 1.1560.
The euro broke five-day winning streak on Monday, which retreated moderately to dollar to 1.1388. The session ranged in the final values 1.1412 and 1.1357. Currently EUR/USD continues to consolidate above the rising moving averages, but the relative strength index retreated from extreme levels. A likely target is the 1.1435 but break of 1.1355 will open the way for a test of 1.1290.
EUR/USD: Pair Near Daily Lows, Lacks Direction The euro was trading near daily lows around $1.1360 during the Frankfurt session and was spotted 0.2% weaker on the day, having printed daily highs slightly below $1.14 in the Asian session.
Earlier in the day, German industrial production for February dropped notably from 2.3% to -0.5%, while the yearly print moderated to 1.3% from 1.8%. Both gauges came out above market estimates, although the previous numbers were downwardly revised.
In the previous session, German factory orders crashed in February. On a monthly basis orders declined from -0.1% to -1.2%, with the yearly change decelerating from 1.1% to 0.5%. Both measures were far off analysts' expectations.
Moreover, France's services PMI ticked higher from 49.2 to 49.9, while the German PMI dropped to 55.1 from 55.3 booked in February.
read more
Yesterday EURUSD went back and forward without any clear direction again but this time with a wide range and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting lack of momentum plus indecision among the traders.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
This lack of momentum is not strange with traders looking for some clues and guidance from the FOMC meeting minutes later today.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the previous swing high at 1.1342 (support), the 10-day moving average at 1.1327 (support), and daily support at 1.1237.
The EUR/USD is trading at 1.1345 after making a high of 1.1437.9. The Euro seems poised to continue depreciating against the Dollar as first support zone is seen at 1.1320, while major support is 1.1240.