Our best spreads and conditions
Learn more
Forex News
Back
Jun 3, 2013
EUR/USD above 1.3000 ahead of PMI
FXstreet.com (Barcelona) - The better tone in the risk-associated assets is lifting the euro against the greenback above 1.3000 the figure on Monday, ahead of the final figures of the May PMI.
Positive result from the Chinese NBS manufacturing PMI over the weekend (50.8 vs. 50.6 prev.) is propping up the advance of the pair, while investors are waiting the final results for the month of May. Consensus expects the prints to come in a tad higher, confirming the previous flash results. Across the pond, the ISM Manufacturing PMI will be in the limelight as well as a speech by Fed’s Williams.
As of writing, the pair is up 0.14% at 1.3013 with the next resistance at 1.3062 (high May 30) ahead of 1.3072 (61.8% of 1.3243-1.2796) and then 1.3114 (MA100d). On the downside, a breach of 1.2965 (MA21d) would target 1.2934 (low May 30) en route to 1.2931 (MA10d).
Positive result from the Chinese NBS manufacturing PMI over the weekend (50.8 vs. 50.6 prev.) is propping up the advance of the pair, while investors are waiting the final results for the month of May. Consensus expects the prints to come in a tad higher, confirming the previous flash results. Across the pond, the ISM Manufacturing PMI will be in the limelight as well as a speech by Fed’s Williams.
As of writing, the pair is up 0.14% at 1.3013 with the next resistance at 1.3062 (high May 30) ahead of 1.3072 (61.8% of 1.3243-1.2796) and then 1.3114 (MA100d). On the downside, a breach of 1.2965 (MA21d) would target 1.2934 (low May 30) en route to 1.2931 (MA10d).