30 Apr 2015
EUR/USD drops to 1.1160 on US data
FXStreet (Edinburgh) - EUR/USD is back around 1.1160 after a failed attempt to gather further traction beyond the 1.1200 handle.
EUR/USD trims gains post US releases
The pair shed some pips after US Initial Claims surprised to the upside, dropping to 262K in the week ended on April 24th. Further data showed Personal Income coming in at 0.0% and Personal Spending rising 0.4%, both prints missing consensus at 0.2% and 0.5%, respectively. In addition, Employment Cost Index rose 0.7% during Q1and the PCE rose 0.3% on a year to March.
The Chicago PMI is due next with consensus expecting an improvement to 50.0 for the current month.
EUR/USD key levels
At the moment the pair is gaining 0.33% at 1.1166 with the initial hurdle at 1.1250 (high Apr.30) ahead of 1.1280 (76.4% of 1.1534-1.0457) and finally 1.1307 (100d-MA). On the flip side, a breakdown of 1.1152 (daily cloud top) followed by 1.1072 (low Apr.30) and then 1.0960 (low Apr.29).
EUR/USD trims gains post US releases
The pair shed some pips after US Initial Claims surprised to the upside, dropping to 262K in the week ended on April 24th. Further data showed Personal Income coming in at 0.0% and Personal Spending rising 0.4%, both prints missing consensus at 0.2% and 0.5%, respectively. In addition, Employment Cost Index rose 0.7% during Q1and the PCE rose 0.3% on a year to March.
The Chicago PMI is due next with consensus expecting an improvement to 50.0 for the current month.
EUR/USD key levels
At the moment the pair is gaining 0.33% at 1.1166 with the initial hurdle at 1.1250 (high Apr.30) ahead of 1.1280 (76.4% of 1.1534-1.0457) and finally 1.1307 (100d-MA). On the flip side, a breakdown of 1.1152 (daily cloud top) followed by 1.1072 (low Apr.30) and then 1.0960 (low Apr.29).