EURUSD rose yesterday and closed at 1.3061. The French, Italian and Spanish Manufacturing PMI came better than the market expectation in June. The Consumer Price Index year over year in the Eurozone rose 1.6 percent in June. The Unemployment Rate in the Eurozone came better than the market expectation at 12.1 percent in May. On the other side of the ocean the Final Manufacturing Purchasing Managers Index in the United States dropped to a reading of 51.9 in June. The ISM Manufacturing PMI came out at 50.9 in June. Support for the EURUSD is seen at 1.2997 and resistance is seen at 1.3087. The HotForex Traders Board shows that 53 percent of the traders are long on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5215. The Manufacturing Purchasing Managers Index in the United Kingdom rose to a 25 month high, coming at a reading of 52.5 in June. The number of Mortgage Approvals for house purchases in the UK rose to 58K in May marking the highest level since December 2009. In a release today the Construction Purchasing Managers Index in the UK came out close to the market expectations at a reading of 51.0. Support for the GBPUSD is seen at 1.5163 and resistance is seen at 1.5276. The HotForex Traders Board shows that 70 percent of the traders are long on the GBPUSD.
EURUSD trading again near the 1.30 mark. FOMC Member Dudley speaks later today.
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