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Forex: EUR/USD hovering over 1.3075/80

FXstreet.com (Barcelona) - After hitting fresh multi-week highs above 1.3100 on Tuesday, the shared currency given away some pips and returned to the current area of 1.3075/1.3100 after China unexpectedly printed a trade deficit in March. In fact, China’s trade deficit reached CNY 0.88 billion with exports growing 10.0% YoY and imports 14.1% YoY.

Continuing with the euro docket, France, Spain and Italy will release industrial production results.

At the moment, the cross is down 0.06% at 1.3075 facing the next support at 1.2963 (low Apr.8) ahead of 1.2949 (high Apr.4).
On the upside, a breakout of 1.3107 (high Mar.15) would bring 1.3115 (38.2% of Feb-Apr slide).

Session Recap: USD broadly lower, China posts a trade deficit

An Asian trade dominated by the first trade deficit in China in 12 months due to new lunar year as it has been the case in last few years, showing decreasing exports with increasing imports, what favors neighbor exporting economies such as Australia, main trade partner for the Aussies, making AUD/USD to spike above the 1.05 handle, though still with not much of a follow through.
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Forex: GBP/USD consolidates above 1.5300

The sterling is navigating the area above the key level at 1.5300 on Wednesday, while attempts of correction higher have been capped around 1.5340 so far...
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