OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD holds above 1.2900 after US data

FXstreet.com (Córdoba) - The euro holds onto gains barely above the 1.2900 level against the dollar after the latest string of US data, including the Markit manufacturing PMI and housing price index, came in higher than expected.

EUR/USD rose to retest highs at the 1.2915 area after the data, but lacked momentum to break decisively above that level. At time of writing, EUR/USD is trading at the 1.2905 zone, where it posts a 0.4% daily gain.

If EUR/USD breaks decisively above 1.2915, next resistances could be found at 1.2960 (intraday level May 22) and 1.3000 (psychological level/200-day SMA), while on the other hand supports are seen at 1.2820 (daily low) and 1.2800 (psychological level).

Flash: Markets seize hawkish tone after FOMC – Deutsche Bank

The FOMC minutes that came later was also viewed to be less dovish than the Fed commentary we've seen recently as the minutes noted that "a number of participants expressed willingness to adjust the flow of purchases downward as early as the June meeting if the economic information received by that time showed evidence of sufficiently stronger and sustained growth".
Read more Previous

Greek PM: Ireland shows us the way

Greek Prime Minister Antonis Samaras hosted his Irish counterpart Edna Kenny in Athens on Thursday. The two leaders discussed the economic situation in Europe and crisis exit strategies.
Read more Next
Start livechat