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Trading news
21 Feb 2013
Forex: EUR/USD moves above 1.3200, Fed's Bullard still ahead
With the release of the last relevant pieces of US data for today, the EUR/USD finally moved above the 1.3200 line and printed a session high at 1.3228. Still, after yesterday’s unsettled market on the FOMC meeting minutes, today's Fed Bullard's speach 17:30 GMT must be the real focus of the day.
Philadelphia Fed Manufacturing Index in the US dropped from -5.8 to -12.5 in February, instead of rising to 1.0 as expected, disappointing investors.
The Leading Indicator by the Conference Board came at 0.2% in January (MoM), lower than the 0.3% expected. December data came in at 0.5%.
November existing home sales were revised lower by -1.2%, from 4.94M to 4.90M. January data was expected to come in at 4.90M, but surprised by rising to 4.92M.
UBS analysts are neutral: “Yesterday's sharp sell-off suggests the risk is for extension of the consolidation phase”, wrote analyst Gareth Berry, pointing to support at 1.3187 ahead of 1.3063. Resistance is at 1.3434.
Philadelphia Fed Manufacturing Index in the US dropped from -5.8 to -12.5 in February, instead of rising to 1.0 as expected, disappointing investors.
The Leading Indicator by the Conference Board came at 0.2% in January (MoM), lower than the 0.3% expected. December data came in at 0.5%.
November existing home sales were revised lower by -1.2%, from 4.94M to 4.90M. January data was expected to come in at 4.90M, but surprised by rising to 4.92M.
UBS analysts are neutral: “Yesterday's sharp sell-off suggests the risk is for extension of the consolidation phase”, wrote analyst Gareth Berry, pointing to support at 1.3187 ahead of 1.3063. Resistance is at 1.3434.