EURUSD dropped yesterday and closed at 1.3590. The ECB Vice President Vitor Constancio expressed his concerns over the risks which may be triggered by a prolonged period of low inflation in the Eurozone. Yves Mersch a policymaker at the ECB hinted that the Governing Council was comfortable of taking conventional and unconventional measures to fight with the low inflation in the region.
Data from the United States released today showed that the Unemployment Claims dropped to a level of 300K during the last week. Another release from the US indicated that the second estimate for the GDP in the first quarter of 2014 dropped to a reading of -1.0 percent. Investors are now looking forward for the Pending Home Sales release due from the United States.
Support for the EURUSD 1.3588 and resistance is seen at 1.3666.
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EURUSD trading near the lows after the US Unemployment Claims report
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