21 May 2015
A poor day of data either side of Atlantic - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the American dollar edged lower across the board, albeit the common currency was unable to settle above the 1.1120 Fibonacci area.
Key Quotes:
"The pair surged early Europe to a 2-day high of 1.1180, despite growth in the region resulted disappointing in May, according to the latest Markit PMI figures, which showed a slowdown in German output, and worse-than-expected readings in the Service sector for France and the EU."
"Consumer confidence in the region released later on in the day, fell down to -5.5 in April, versus .4.6 the previous month. In the US however, things did not look better, as weekly unemployment claims came out at 274K for the week ended May 15th, whilst the Markit Manufacturing PMI missed expectations, alongside with Existing Home Sales."
Key Quotes:
"The pair surged early Europe to a 2-day high of 1.1180, despite growth in the region resulted disappointing in May, according to the latest Markit PMI figures, which showed a slowdown in German output, and worse-than-expected readings in the Service sector for France and the EU."
"Consumer confidence in the region released later on in the day, fell down to -5.5 in April, versus .4.6 the previous month. In the US however, things did not look better, as weekly unemployment claims came out at 274K for the week ended May 15th, whilst the Markit Manufacturing PMI missed expectations, alongside with Existing Home Sales."