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Forex: EUR/USD climbs to 1.2880/85

FXstreet.com (Barcelona) - Softer US producer prices and poor Empire State manufacturing index encouraged the shared currency to attempt a rebound to the area of 1.2880/85, although the bounce run out of steam afterwards, dragging the cross back to the current 1.2870/75 region.

Next on the US docket will be the Industrial Production figures and the NAHB Housing Market index.

The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).

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Forex: GBP/USD regains 1.5200 after US data

The dollar pulled back across the board after the latest string of US data showed the NY Empire State manufacturing index unexpectedly fell in May, while producer prices dropped 0.7% in April, supporting the case that it is too early to talk about Fed tapering off QE3.
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