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Forex: EUR/USD at 1.2920 ahead of US jobless claims

FXstreet.com (Barcelona) - The EUR/USD went as low as 1.2880 once the EMU Markit PMI preliminary data for February revealed much weaker than expected figures, along with German manufacturing below the 50.0 threshold. Eventually, the pair bounced back to the 1.2900 ground but is having quite a hard time to hold a position above 1.2920.

The market is getting ready to the US labor, housing and manufacturing data due shortly. “Initial jobless claims are expected to reverse their fall from the previous week, while we look for the Philly Fed and existing home sales data both to print slightly higher than expected”, wrote TD Securities analyst Alvin Pontoh.

“The whole movement looks like triangle pattern; the pair may start a correction and leave the pattern to reach the level of 1.3130 and then continue falling down towards the target at 1.2700”, wrote Ro-boforex.com anayst Igor Sayadov, pointing to 1.2130 if the pair leaves the pattern downwards.

Forex: USD/CAD falls to 1.0211/13

The USD/CAD has traded fallen steadfastly in recent minutes, plunging deeper into negative Thursday ahead of data in the US and Canada. In recent minutes the cross is establishing fresh lows at 1.0204, though at the time of writing the pair is trading at 1.0211/13, down -0.42% during European trading.
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Forex Flash: GBP/USD to enter new phase during latter stages of year – UBS

The Bank of England's updated remit has now enshrined the two features of central bank activity in the post crisis era: flexible interpretations and monetary activism. To their credit, the UK authorities didn't attempt to signal any 'boldness' or experimentation and openly acknowledged that they were emulating the Fed in both style and substance.
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