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Forex: EUR/GBP strengthens above 0.8450

FXstreet.com (Barcelona) - The Euro is rising strongly on the back of the New York opening, having broken above the 0.8450 area and reached the current high of 0.8474, as investors price in expectations ahead of the ECB and FOMC meetings.

The April Chicago PMI has dropped below the 50.0 threshold, from 52.4 to 49.0, instead of rising to 52.5 as expected.
According to the S&P/Case-Shiller Home Prices Indices, housing prices have risen by 9.3% in February, beating market consensus of 9.0% and increasing the rising pace from last month’s 8.1%.

Mataf.net analysts point to resistance at 0.8500. On the downside, supports might be found at 0.8425, 0.8400 and 0.8385.

US: Chicago PMI disappoints at 49 in April

The April Chicago PMI has dropped below the 50.0 threshold, from 52.4 to 49.0, instead of rising to 52.5 as expected.
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