EURUSD rose yesterday and closed at 1.3047. The Raw Materials Price Index in the Eurozone rose to a reading of 46.8 in May. In the United States the Gross Domestic Product data rose 2.4 percent in the first quarter of 2013. The Unemployment Claims rose to a reading of 354K during the last week. The Pending Home Sales rose less than the market expectation hitting 0.3 percent in April. Support for the EURUSD is seen at 1.2951 and resistance is seen at 1.3055. The HotForex Traders Board shows that 56 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5230. The British Chambers of Commerce indicated yesterday that the economy in the United Kingdom would expand by 0.9 percent this year. The agency however cautioned that overall growth is still too weak and that the pace of recovery still faces domestic and overseas challenges. The Nationwide House Price Index rose 0.4 percent in May. Support for the GBPUSD is seen at 1.5113 and resistance is seen at 1.5234. The HotForex Traders Board shows that 57 percent of the traders are long on the GBPUSD.
EURUSD stopped its upside move at the 1.3050 level. Canadian GDP data on focus today.
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