1 May 2014
EUR/USD around 1.3880 on US docket
FXStreet (Edinburgh) - The shared currency keeps the composure after the US data releases on Thursday, with the EUR/USD hovering over 1.3875/80.
EUR/USD muted after data
Spot remains indifferent after US Initial Claims rose to 344K in the week ended on April 25th and Personal Income/Spending expanded 0.5% and 0.9% in March, respectively. The inflation, gauged by the Core PCE, rose at an annual pace of 1.2% vs. 1.1% previous. In light of next week’s ECB meeting, analysts at BTMU assessed, “While we do not expect further ECB easing at next week’s meeting, rising euro-zone money market rates and lower euro-zone inflation have increased the risk that the ECB may act to ease policy earlier than expected”.
EUR/USD levels to consider
At the moment the pair is up 0.07% at 1.3877 with the next resistance at 1.3906 (high Apr.11) ahead of 1.3935 (high Mar.19) and then 1/3944 (high Mar.18). On the flip side, a breakdown of 1.3830 (10-d MA) would aim for 1.3800 (psychological level) and then 1.3771 (low Apr.30).
EUR/USD muted after data
Spot remains indifferent after US Initial Claims rose to 344K in the week ended on April 25th and Personal Income/Spending expanded 0.5% and 0.9% in March, respectively. The inflation, gauged by the Core PCE, rose at an annual pace of 1.2% vs. 1.1% previous. In light of next week’s ECB meeting, analysts at BTMU assessed, “While we do not expect further ECB easing at next week’s meeting, rising euro-zone money market rates and lower euro-zone inflation have increased the risk that the ECB may act to ease policy earlier than expected”.
EUR/USD levels to consider
At the moment the pair is up 0.07% at 1.3877 with the next resistance at 1.3906 (high Apr.11) ahead of 1.3935 (high Mar.19) and then 1/3944 (high Mar.18). On the flip side, a breakdown of 1.3830 (10-d MA) would aim for 1.3800 (psychological level) and then 1.3771 (low Apr.30).