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20 Jun 2013

EUR/USD plunges to session lows

FXstreet.com (New York) - The EUR/USD technical pair fell lower to establish fresh lows during US trading, after a tranche of economic data out of the United States.

In the United States, the Philadelphia Fed Manufacturing Survey (June) came in at 12.5, vastly outperforming expectations of -0.2. In addition, the CB Leading Indicator (MoM) was reported at +0.1% in May, missing estimates of +0.2%. Finally, Existing Home Sales Change (MoM) grew +4.2% in May, crushing projections of +0.6%. In the EMU, Consumer Confidence shrank to -18.5 in June, vs. estimates calling for -21.5.

Technically speaking, the pair is operating at 1.3172, or -0.94% in these moments. The EUR/USD will look towards supports at 1.3168, followed by 1.3074.

EUR/USD holds onto negative expectations

“The EUR/USD is trading below 50% correction at 1.3230, as stability below that level is considered negative over intraday basis. Therefore, we hold on to our negative expectations of the pair especially that momentum indicators are reflecting negativity. The pair has to break levels 1.3170 to support extending the downside move during today’s session.” warns the Technical Analyst Team at ICN.com.
Jun 20, 2013

GBP/USD lower post US data

GBP/USD was sat between 1.5475/85 pre data release and is moving to the downside after a series of numbers came out overall better than expectations. CB Leading Indicator came in slightly worse at 0.1 % vrs expectation 0.2%, Existing Home Sales Change came in much better at 4.2 % vrs expectation 0.6%Philly Fed Manufacturing came in much higher 12.5% vrs expectation -0.2
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Jun 20, 2013

EMU: Consumer Confidence up to -18.8 in June

Preliminary Eurozone Consumer Confidence data released by the European Commission today revealed an increase to -18.8 in June, from -21.9 registered in May. Analysts expected only a slight rise to -21.5.
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