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Forex: EUR/USD around 1.3065/70 after US data

FXstreet.com (Barcelona) - The bloc currency advanced some pips to the area of 1.3065/70 after the marginal change in the weekly report on the US labour market. The report showed that Initial Claims rose a tad to 352K in the week ending on April 13, missing the median at 350K and above the previous week’s 348K (revised).

Next on tap in the US docket will be the Philly Fed manufacturing Survey, as well as speeches by Fed’s Kocherlakota, Lacker and FOMC’s Raskin.

At the moment, the pair is up 0.29% at 1.3069 with the next resistance at 1.3108 (MA55d) followed by 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a violation of 1.3001 (low Apr.17) would open the door to 1.2963 (low Apr.8) en route to 1.2959 (MA21d).

Bundestag gives the green light to the Cypriot bailout

The German parliament has approved the rescue package for Cyprus today, with a clear majority voting in favor. German Finance Minister Wolfgang Schäuble assured that the aid will prevent the crisis from spreading to other countries.
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Forex Flash: Emerging market asset performance weakens – Goldman Sachs

Over the past several months, Emerging Markets (EM) asset performance has been weak across a wide set of markets. Cyclical EM assets (equities, FX and credit) have underperformed, while counter-cyclical assets (yields) have outperformed. “While this weakness coincides with a deterioration of the global macro data picture, it appears to be deeper than the data would suggest. There are three potential explanations, EMs represent a buying opportunity, they are a ‘canary in the global growth coal mine’, and they reflect common constraints and challenges faced specifically by EM economies, rather than broader global cyclical.” notes the Economics Research Team at Goldman Sachs.
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