EURUSD rose yesterday and closed at 1.3077. The German Factory Orders month over month rose more than the market expectation rising 2.2 percent in March. In France the Industrial Production month over month dropped 0.9 percent in March. The French Government Budget Balance increased to 31 billion Euro. On the other side of the ocean the US Treasury Secretary Jacob Lew stated that the economy in the United States must grow 3 percent or more in the next year, faster than the current 2-2.5 percent. Support for the EURUSD is seen at 1.3055 and resistance is seen at 1.3159. The HotForex Traders Board shows that 57 percent of the traders are short on the EURUSD.
GBPUSD
The Cable dropped yesterday and closed at 1.5484. The British Retail Consortium reported earlier today that the Retail Sales year over year in the United Kingdom dropped 2.2 percent in April. The Halifax House Price Index month over month released today increased 1.1 percent in April. Support for the GBPUSD is seen at 1.5464 and resistance is seen at 1.5541. The HotForex Traders Board shows that 60 percent of the traders are long on the GBPUSD.
EURUSD trading back at the 1.31 level. US Treasury Auction on focus today.
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