28 Jun 2013
EUR/USD drifting up
FXstreet.com (London) - A raft of data has been released for the EZ today, without too much reaction from the markets.
The data has been more or less second tier and the market is still generally fixated on US releases. Euro Zone PPI yoy for May came in -1.1% and slightly higher than previous while Retail Sales yoy for April was highly disappointing at -14.2%. Italian CPI surprised to the upside and we await German numbers in CPI that the market is focusing on more so until US data in the afternoon.
EUR/USD drifting higher for now
The EUR/USD has drifted higher since Wednesday’s lows from below 1.3000 handle. The pair managed a high today 1.3077. However, the broader direction and tone for the pair are still biased towards he downside, especially below and while the 200 d ma holds the ranges to the topside. The 55d ma is coming in as likely target and support to the downside.
The data has been more or less second tier and the market is still generally fixated on US releases. Euro Zone PPI yoy for May came in -1.1% and slightly higher than previous while Retail Sales yoy for April was highly disappointing at -14.2%. Italian CPI surprised to the upside and we await German numbers in CPI that the market is focusing on more so until US data in the afternoon.
EUR/USD drifting higher for now
The EUR/USD has drifted higher since Wednesday’s lows from below 1.3000 handle. The pair managed a high today 1.3077. However, the broader direction and tone for the pair are still biased towards he downside, especially below and while the 200 d ma holds the ranges to the topside. The 55d ma is coming in as likely target and support to the downside.