7 Jun 2013
EUR/USD little changed after German data
FXstreet.com (Barcelona) - The EUR/USD posted no reaction after the better figures from the German trade data and current account, keeping the mid 1.32s.
April’s trade surplus rose to €17.7 billion vs. €17.2 billion expected, with exports growing 1.9% and imports following suit, 2.3%. In Addition, the Current Account surplus came in at €17.6 billion, exceeding the median although lower than March’s €20.4 billion. “Currency traders may turn increasingly bullish on the USD ahead of the next FOMC meeting on June 19 as we see a growing discussion to taper the asset-purchase program, and the updated assessment from the central bank may further dampen expectations for additional monetary support should the Fed raise its outlook for growth and inflation”, assessed David Song, Currency Analyst at DaolyFX.
At the moment the pair is gaining 0.04 % at 1.3254 facing the next hurdle at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3343 (61.8% of Feb-Apr slide). On the flip side, a drop beyond 1.3230 (weekly Kijun) would clear the way to 1.3108 (MA100d) en route to 1.3075 (low Jun6).
April’s trade surplus rose to €17.7 billion vs. €17.2 billion expected, with exports growing 1.9% and imports following suit, 2.3%. In Addition, the Current Account surplus came in at €17.6 billion, exceeding the median although lower than March’s €20.4 billion. “Currency traders may turn increasingly bullish on the USD ahead of the next FOMC meeting on June 19 as we see a growing discussion to taper the asset-purchase program, and the updated assessment from the central bank may further dampen expectations for additional monetary support should the Fed raise its outlook for growth and inflation”, assessed David Song, Currency Analyst at DaolyFX.
At the moment the pair is gaining 0.04 % at 1.3254 facing the next hurdle at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3343 (61.8% of Feb-Apr slide). On the flip side, a drop beyond 1.3230 (weekly Kijun) would clear the way to 1.3108 (MA100d) en route to 1.3075 (low Jun6).