2 Jul 2013
EUR/USD paring losses after rapid thrust
FXstreet.com (New York) - The EUR/USD foreign exchange rate recently turned higher, paring a large majority of its losses incurred during US trading.
Earlier today in the United States, the ISM New York Index (June) came in at 47.0, compared with a result of 54.4 previously. In addition, Factory Orders (MoM) were reported at +2.1% in May, beating expectations of +2.0%.
EUR/USD regains 1.3000 level
After losing its grip on the 1.3000 level earlier, the EUR/USD has now edged higher and has recovered the mark of 1.3029 presently, still down -0.27% Tuesday.
EUR/USD likely to revisit 1.31000 despite recent weakness
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD’s small bounce from 1.2998, the 61.8% retracement of the move higher from April, took it to 1.3103 on Friday, before the currency pair dropped again. It held around the 1.3000 mark on Monday, though. While this is the case the 1.3100 region is likely to be revisited.
Earlier today in the United States, the ISM New York Index (June) came in at 47.0, compared with a result of 54.4 previously. In addition, Factory Orders (MoM) were reported at +2.1% in May, beating expectations of +2.0%.
EUR/USD regains 1.3000 level
After losing its grip on the 1.3000 level earlier, the EUR/USD has now edged higher and has recovered the mark of 1.3029 presently, still down -0.27% Tuesday.
EUR/USD likely to revisit 1.31000 despite recent weakness
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD’s small bounce from 1.2998, the 61.8% retracement of the move higher from April, took it to 1.3103 on Friday, before the currency pair dropped again. It held around the 1.3000 mark on Monday, though. While this is the case the 1.3100 region is likely to be revisited.