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Forex: EUR/USD in red below 1.2800

FXstreet.com (Barcelona) - The single currency is trading in the red territory on Monday, as markets are slowly shrugging off Easter holidays.
The selling interest in the euro dragged the cross from the boundaries of the key resistance of 1.2800 to intraday lows around 1.2770 overnight, climbing some pips since.

Empty docket in the euro area would prompt investors to shift their focus on the NA session, where the final figure of the Manufacturing PMI is due alongside the ISM Manufacturing.

At the moment, the cross is down 0.13% at 1.2788 facing the next support at 1.2751 (low Mar.27) and then 1.2730 (low Nov.19).
On the flip side, a breakout of 1.2884 (MA200d) would aim for 1.3050 (high Mar.25) and then 1.3163 (high Feb.28).

Nikkei sees profit taking ahead of BoJ, China gets stronger manufacturing PMI

Japan’s Nikkei Stock Average fell -1.72% on profit taking ahead of the much expected BoJ meeting this week and Mainland China’s Shanghai Composite gained +0.04% after the rising manufacturing PMI, picking up from the holiday-affected 50.1 in February to 50.9 in March: “a decent bounce, but overall disappointed market expectations for a more convincing improvement to 51.2”, according to TD Securities analysts. “The March quarter average is 50.5: same as Dec qtr 2012, hence hints at a steady GDP print of 8.0%/yr (after 7.9% in Dec qtr 2012)”, they continued.
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