29 May, 2015
The shared currency picked up further pace vs. the dollar on Friday, pushing EUR/USD to challenge session tops near 1.0970.
EUR/USD eyes 1.10, US GDP
The pair saw its upside boosted despite mixed results in the euro area showed Private Loans coming in flat vs. expectations for a 0.2% gain, while the M3 Money Supply expanded more than anticipated during April, at an annual pace of 5.3%. Further data showed Italian GDP expanding 0.3% QoQ during Q1 and 0.1% on a yearly basis, surpassing prior surveys.
In the meantime, the G7 meeting has resumed in Dresden with the re-negotiation of the Greek debt taking centre stage, mainly following yesterday’s comments by IMF Chief C.Lagarde.
EUR/USD levels to watch
At the moment the pair is up 0.18% at 1.0969 with the next resistance at 1.1026 (10-d MA) ahead of 1.1062 (low May 20) and then 1.1067 (38.2% of 1.1468-1.0819). On the downside, a break below 1.0867 (low May 28) would target 1.0819 (low May 27) and finally 1.0785 (low Apr.24).
On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs...
A subdued USD demand helps build on this week's rebound. Improving risk sentiment does little to prompt fresh selling. US-China trade optimism/Fed rate hike...
Bearish API report, Saudi's pledge and stronger US weigh down on oil. Attention turns towards EIA crude stocks data for fresh impetus to the oil markets...
Rising diplomatic tensions continue to underpin safe-haven demand. Subdued USD price-action remains supportive of a mildly positive tone. A modest...
Struggles to build on overnight strong up-move despite a goodish USD rebound. Bulls tracked retracing US bond yields, tough risk-on mood...
The index rebounds from tops and tests 95.70. Yields of the US 10-year note ease a tad from peaks around 2.90%. US trade balance figures next of relevance...
USD weakness came to a halt yesterday after the Fed's Kaplan emphasised the central bank's independence, thus reassuring markets that
Brexit uncertainty, Turkish contagion fears leave the higher-yielding GBP vulnerable. Attention turns to Tuesday UK jobs report amid empty docket today...
The commodity extended last week's rejection slide from $1235 horizontal resistance and remains within striking distance of an important horizontal...