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5 Oct 2015
EUR/USD clinches 1.1250 on PMIs
FXStreet (Edinburgh) - He single currency has started the week on the right footing vs. the greenback, now lifting EUR/USD to fresh session tops in the 1.1250/60 band.
EUR/USD eyes on PMIs
While market participants are still digesting the miserable prints from last Friday’s Non-farm Payrolls in the US economy (142K), the final figures from Services PMIs in Euroland has taken centre stage during the European morning, with both German and EMU readings coming in below expectations. Still in the euro area, next on tap will be the Sentix index ahead of EMU’s Retail Sales.
Spot is posting gains for the third consecutive session so far, as global markets keeps pushing back expectations of a Fed’s lift-off later in the year, which remain the main drag of the dollar so far.
EUR/USD levels to watch
As of writing the pair is advancing 0.34% at 1.1251 and a breakout of 1.1318 (high Oct.2) would target 1.1330 (high Sep.21) en route to 1.1373 (high Sep.14). On the flip side, the immediate support lines up at 1.1207 (low Oct.5) followed by 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1).
EUR/USD eyes on PMIs
While market participants are still digesting the miserable prints from last Friday’s Non-farm Payrolls in the US economy (142K), the final figures from Services PMIs in Euroland has taken centre stage during the European morning, with both German and EMU readings coming in below expectations. Still in the euro area, next on tap will be the Sentix index ahead of EMU’s Retail Sales.
Spot is posting gains for the third consecutive session so far, as global markets keeps pushing back expectations of a Fed’s lift-off later in the year, which remain the main drag of the dollar so far.
EUR/USD levels to watch
As of writing the pair is advancing 0.34% at 1.1251 and a breakout of 1.1318 (high Oct.2) would target 1.1330 (high Sep.21) en route to 1.1373 (high Sep.14). On the flip side, the immediate support lines up at 1.1207 (low Oct.5) followed by 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1).