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Limited movement in EUR/USD as European and German PMIs soften – MP

FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes EUR/USD remaining stable on Thursday, as the pair trades in the low-1.25 range, but sees some volatility on unexpected US data readings ahead in the day.

Key Quotes

“On the release front, Eurozone PMI data disappointed, as Eurozone and German data weakened in November. On a bright note, French PMIs showed slight improvement. In the US, it’s busy day, with three key indicators – Core Retail Sales, Retail Sales and Unemployment Claims. Any unexpected readings from these events could translate into some volatility from EUR/USD.”

“EUR/USD was flat in the Asian session. The pair has been choppy in the European session, testing support at 1.2518.”

“1.2518 remains a weak support line. 1.2407 is stronger.”

“1.2688 is a strong resistance line.”

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