EURUSD rose yesterday and closed at 1.3524. The Spanish Manufacturing Purchasing Managers Index recorded a gain in January coming at a reading of 52.2. On the other hand the Italian Manufacturing Purchasing Managers Index came out worse than the market expectation at a reading of 53.1 in January. On the other side of the ocean the ISM Manufacturing PMI in the United States also came out worse than expected at a reading of 51.3 in January. The US Treasury Secretary Jacob Lew warned of the possibility of a US government default, should the borrowing limit of the government be extended on an urgent basis.
In a release today the Spanish Unemployment Change came out negative at a reading of 113.1K in January. Market had expected a reading of -21.3K. Looking ahead in the week we have the ECB Press Conference and Minimum Bid Rate decision from the Eurozone and the US Non-Farm Employment Change data due from the United States on focus of the investors.
Support for the EURUSD is seen at 1.3476 and resistance is seen at 1.3575. The HotForex Traders Board shows that 52 percent of the traders are long on the EURUSD.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
EURUSD trading steady in the European session
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