4 Sep 2013
EUR/USD sustains 1.32 zone at closing
FXstreet.com (Chicago) - EUR/USD reached 1.3218 highs at the release of Beige book results. The pair maintains 1.32 front at the closing of a positive Wall Street session.
Euro-zone and American data
In Europe, the region’s GDP results matched 0.3% expectations (QoQ). Annual GDP was -0.5% vs. prior -1.1% and estimates at -0.7%. Retail sales failed to meet estimates with monthly results at 0.1% vs. 0.4% projections and prior -0.7% (MoM). Yearly results were -1.3% vs. estimates at -0.4%. Markit services PMI for France, Germany and Spain beat expectations at 48.9 vs. 47.7, 52.8 vs. 52.4 and 50.4 vs. 50.0 respectively. Markit services PMI for the Euro-zone were 50.7 vs. estimates at 51.0 while the Markit PMI composite for August was 51.5 vs. past 50.5 and projections at 51.7. Retail sales (MoM) were 0.1% vs. 0.4% estimates and past -0.7%. Markets closed with gains with the Euronext 100 up 1.16% while the CAC 40 was up 0.16%, the FTSE 100 up 0.10% and the DAX gained 0.19%.
In the US, MBA mortgage applications were 1.3% vs. past -2.5% while the Redbook index (MoM) was 0.6% vs. past 0.3%. The ISM New York Index was 60.5 vs. past 67.8 and Fed’s beige book indicated a modest growth with moderate improvements in hiring and real estate. Wall Street closed with gains with the Dow up 0.66%, the Nasdaq higher 1.01% and the S&P 500 up 0.81%. “Modest” improvements were weighted in by market participants who also learned about the Senate’s support to intervene in Syria.
EUR/USD Technical Levels
The pair trades at 1.3211 and accumulates minimal 0.02% losses. On the downside, supports are aligned at 1.32 (session lows), 1.3191 (August 31st lows) ahead of 1.3172 (August 30th lows) while resistances are set at 1.3218 (August 29th lows), 1.3238 (August 14th lows) followed by 1.3252 (August 30th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
Euro-zone and American data
In Europe, the region’s GDP results matched 0.3% expectations (QoQ). Annual GDP was -0.5% vs. prior -1.1% and estimates at -0.7%. Retail sales failed to meet estimates with monthly results at 0.1% vs. 0.4% projections and prior -0.7% (MoM). Yearly results were -1.3% vs. estimates at -0.4%. Markit services PMI for France, Germany and Spain beat expectations at 48.9 vs. 47.7, 52.8 vs. 52.4 and 50.4 vs. 50.0 respectively. Markit services PMI for the Euro-zone were 50.7 vs. estimates at 51.0 while the Markit PMI composite for August was 51.5 vs. past 50.5 and projections at 51.7. Retail sales (MoM) were 0.1% vs. 0.4% estimates and past -0.7%. Markets closed with gains with the Euronext 100 up 1.16% while the CAC 40 was up 0.16%, the FTSE 100 up 0.10% and the DAX gained 0.19%.
In the US, MBA mortgage applications were 1.3% vs. past -2.5% while the Redbook index (MoM) was 0.6% vs. past 0.3%. The ISM New York Index was 60.5 vs. past 67.8 and Fed’s beige book indicated a modest growth with moderate improvements in hiring and real estate. Wall Street closed with gains with the Dow up 0.66%, the Nasdaq higher 1.01% and the S&P 500 up 0.81%. “Modest” improvements were weighted in by market participants who also learned about the Senate’s support to intervene in Syria.
EUR/USD Technical Levels
The pair trades at 1.3211 and accumulates minimal 0.02% losses. On the downside, supports are aligned at 1.32 (session lows), 1.3191 (August 31st lows) ahead of 1.3172 (August 30th lows) while resistances are set at 1.3218 (August 29th lows), 1.3238 (August 14th lows) followed by 1.3252 (August 30th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.