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3 Jun 2015

EUR/USD drops to 1.1104

FXStreet (Mumbai) - The EUR/USD pair dipped to 1.1104 levels even though the data released in the Eurozone showed retail sales ticked higher in April, while the unemployment rate declined in May.

EUR weakens as German yield pared gains

The pair saw a minor recovery to 1.1138 before resuming the fall, after the Eurozone retail sales in Apr printed higher-than-expected at 2.25 year-on-year. Meanwhile, the unemployment rate in May ticked lower to 11.1%, compared to the expectation of 11.2%.

The shared currency is being pushed lower by the German 10-year Bund yield, which fell from a high of 0.749% to trade at 0.71%. Moreover, the gains in the EUR witnessed in the previous session were largely driven by the sharp rise in the benchmark German 10-year yield.

EUR/USD Technical Levels

The pair currently trades at 1.1110. The immediate support is seen at 1.11, under which the pair could drop to 1.1072 levels. On the flip side, a break above 1.1132 could push the pair higher to 1.1165.
Jun 3, 2015

ECB could revise inflation higher

The European Central Bank could revise up its inflation forecasts for the upcoming periods in light of the recent CPI results in the euro...
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Jun 3, 2015

EUR/JPY dives deeper in red near 138.20

EUR/JPY fell further into losses during the mid-European trades, as markets shrugged off upbeat EMU retail sales and employment data which failed to boost the shared currency versus the yen. While markets now await ECB decision for fresh cues on the cross.
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