EURUSD rose yesterday and closed at 1.3036. The economic indices in the Eurozone improved in June. The industrial and the consumer confidence index improved as well. In Germany the number of unemployed people in Germany dropped by 12K in June. On the other side of the ocean the Unemployment Claims in the United States came out at 346K during the last week. The Pending Home Sales in the US rose 6.7 percent in May reaching its highest level in 6 years. Jerome Powell the Governor of the United States Federal Reserve stated that FED may reduce its asset purchases if the economy improves substantially or at a pace they foresee. Powell also added that the Fed could even increase the pace if the economy performs more poorly. Support for the EURUSD is seen at 1.2997 and resistance is seen at 1.3149. The HotForex Traders Board shows that 52 percent of the traders are short on the EURUSD.
EURUSD trading higher after positive economic data from the Eurozone
No comments:
Post a Comment