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4 Apr 2016

EUR/USD clinches 1.14 on US data

EUR/USD regained the 1.14 handle on Monday following a poor release from US Factory Orders.

EUR/USD challenges highs above 1.14

Spot kept the buoyant tone after US Factory Orders have contracted 1.7% MoM in February, matching estimates albeit reverting January’s 1.2% gain; excluding Transportation, Orders have also disappointed markets, dropping 0.8% MoM from previous 0.6% contraction.

Further data saw the Fed’s Labour Market Conditions Index at -2.1 vs. 1.5 forecasted and -2.5 previous.

After bottoming out near 1.1360 in early trade, the pair managed to pull itself together and recover the 1.14 handle, closer to overnight highs around 1.1410.

EUR/USD levels to watch

The pair is now up 0.04% at 1.1397 and a break above 1.1437 (2016 high Apr.1) would open the door to 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015). On the flip side, the immediate support lines up at 1.1291 (23.6% Fibo of 1.0820-1.1437) ahead of 1.1235 (20-day sma) and finally 1.1142 (low Mar.24).

Apr 4, 2016

United States Labor Market Conditions Index up to -2.1 in March from previous -2.4

United States Labor Market Conditions Index up to -2.1 in March from previous -2.4
Read more Previous
Apr 4, 2016

US factory orders fall by 1.7% in February

Orders to US factories dropped by 1.7% in February, the Commerce Department reported on Monday.
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