EURUSD rose yesterday and closed at 1.3223. The single European currency strengthened after the Finance Minister of France Pierre Moscovici stated that the country was out of recession, following the forecasts from the Bank of France the French economy grew 0.2 percent in the second quarter of 2013. The European Commission stated that its preliminary measure of consumer confidence across the Euro-zone rose to -17.4 in July. Reports released today indicated that the Flash Manufacturing Purchasing Managers Index and the Flash Services Purchasing Managers Index in France and Germany rose in July. Investors are now awaiting the New Home Sales report due from the United States later today. Support for the EURUSD is seen at 1.3161 and resistance is seen at 1.3244. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5369. The mortgage approvals in the United Kingdom rose less than the market expectation in June, but still hit the highest level since February 2012. Investors are awaiting the CBI Industrial Order Expectations due from the United Kingdom today. Support for the GBPUSD is seen at 1.5271 and resistance is seen at 1.5390. The HotForex Traders Board shows that 55 percent of the traders are short on the GBPUSD.
EURUSD trading higher ahead of the New Home Sales report due from the United States
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