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May 31, 2013
EUR/USD keeps 1.3000 after US PCE
FXstreet.com (Barcelona) - The euro remained apathetic after the US inflation figures, in terms of the PCE, came in below market forecasts during April.
In fact, the Core Personal Consumption Expenditures posted an annualized increment of 1.1%, a tad higher than the median, while the rest of the readings came in below forecasts. The headline advanced 0.7% on a yearly basis and contracted 0.3% inter-month. Further data showed that Personal Income came in flat while Personal Spending contracted 0.3% during the same period.
The pair is now losing 0.37% at 1.3001 and a violation of 1.2965 (MA21d) would target 1.2934 (low May 30) en route to 1.2931 (MA10d). On the other hand, resistance levels line up at 1.3062 (high May 30) ahead of 1.3072 (61.8% of 1.3243-1.2796) and then 1.3114 (MA100d).
In fact, the Core Personal Consumption Expenditures posted an annualized increment of 1.1%, a tad higher than the median, while the rest of the readings came in below forecasts. The headline advanced 0.7% on a yearly basis and contracted 0.3% inter-month. Further data showed that Personal Income came in flat while Personal Spending contracted 0.3% during the same period.
The pair is now losing 0.37% at 1.3001 and a violation of 1.2965 (MA21d) would target 1.2934 (low May 30) en route to 1.2931 (MA10d). On the other hand, resistance levels line up at 1.3062 (high May 30) ahead of 1.3072 (61.8% of 1.3243-1.2796) and then 1.3114 (MA100d).