OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD clings to gains on US data

FXStreet (Edinburgh) - The shared currency is alternating gains with losses vs. the greenback, taking EUR/USD to the 1.1215/20 area so far.

EUR/USD supported at 1.1200

The pair’s daily decline seems to have found decent support around 1.1200 the figure so far, now attempting a rebound to the 1.1220 region following the poor releases in the US docket.

In fact, Markit’s Services PMI, ISM Non-manufacturing and the Fed’s Labor Market Conditions Index have all disappointed expectations for the month of September, somehow limiting today’s USD upside momentum.

Earlier on, comments by Fed’s E.Rosengren have left the door open for a rate hike in spite of the recent poor result from September’s Non-far Payrolls.

EUR/USD levels to watch

As of writing the pair is advancing 0.01% at 1.1214 and a breakout of 1.1290 (high Oct.5) ahead of 1.1318 (high Oct.2) and then 1.1330 (high Sep.21). On the flip side, the immediate support lines up at 1.1207 (low Oct.5) followed by 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1).

US ISM non-manufacturing activity falls to 56.9 in September

The US Institute of Supply Management’s (ISM) non-manufacturing activity index in September fell to 56.9 compared to the estimated drop to 57.5 from August’s 59.00.
Read more Previous

US stocks rise as bad news is good news again

The US equities advanced on Monday as investors cheered the drop in the December Fed rate hike bets leading to a risk-on rally across the global markets.
Read more Next
Start livechat