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May 31, 2013
EUR/USD little changed after German sales
FXstreet.com (Barcelona) - The shared currency practically ignored the results from the retail sales in the first economy of the bloc during April, coming in mixed.
Retail sales contracted 0.4% on a monthly basis vs. an expected expansion of 0.2% while they expanded 1.8% over the last twelve months, surpassing the forecasts at 0.8%. Next on tap in the euro area will be a gauge of the French Consumer Spending ahead of the more relevant advanced prints of EMU’s consumer prices and the critical unemployment rate during April (12.2% exp.).
As of writing the pair is losing 0.06% at 1.3042 with the next support at 1.2934 (low May 30) ahead of 1.2909 (MA10d) and then 1.2838 (low May 29). On the flip side, a surpass of 1.3072 (61.8% of 1.3243-1.2796) would open the door to the psychological level at 1.3100 and then 1.3117 (MA100d)
Retail sales contracted 0.4% on a monthly basis vs. an expected expansion of 0.2% while they expanded 1.8% over the last twelve months, surpassing the forecasts at 0.8%. Next on tap in the euro area will be a gauge of the French Consumer Spending ahead of the more relevant advanced prints of EMU’s consumer prices and the critical unemployment rate during April (12.2% exp.).
As of writing the pair is losing 0.06% at 1.3042 with the next support at 1.2934 (low May 30) ahead of 1.2909 (MA10d) and then 1.2838 (low May 29). On the flip side, a surpass of 1.3072 (61.8% of 1.3243-1.2796) would open the door to the psychological level at 1.3100 and then 1.3117 (MA100d)