EUR/USD Flat; U.S. Data To Be Followed Today
The euro was trading flat against the greenback on Friday at 1.3612. The data released in both the United States and Europe were equally supportive for their individual currencies. The pair is expected to get support at 1.3574, and resistance at 1.3677.
Jobless Claims Data Improved
On Thursday, the U.S. Department of Labor released jobless claims data, according to which, the number of people, who applied for unemployment benefits declined by 2,000 to 312,000 during the week ended on June 21, as against the previous week’s data of 314,000. However, the fall in the jobless claims data was lower than the analysts’ expectations of 4,000 fall to 310,000. Along side this, the comments from the Federal Reserve President James Bullard that the data as well as other indicators point to recovery in the economy and thus, sent out hint that the Fed might increase interest rates sooner during the beginning of the year 2015. Earlier on Wednesday, the Commerce Department had published that the U.S. GDP contracted at an annual rate of 2.9% during the first three months of the year. Responding to that data, Bullard said, “I think the market’s right to shake this off.”
Today, the data pertaining to the consumer sentiment in the U.S. will be closely followed.
In the meanwhile, back in the European nation, the official data reflecting the consumer spending in France indicated an increase of 1% in May, as against the fall of 0.2% in April. The reading also exceeded the market estimate of a 0.4% gain. Also, Spain and Germany will release initial data relating to consumer price inflation today.
Apart from this, Ukraine is said to have enters into an association agreement with the EU, which will strengthen the political and economic relations between the two regions. It is to be noted that the move by the Ukrainian president, earlier this year, to not to enter into a deal with EU had led to mass demonstrations and election ofa new government in Kiev
Latest posts by Shayne Heffernan (see all)
- WIFI WIRELESS NEW (OTCMKTS:WFWL) Undervalued - April 28, 2015
- Surge Global Energy, Inc. (OTCMKTS:SRGG) Oil Price Report - April 23, 2015
- Surge Global Energy, Inc. (OTCMKTS:SRGG) Undervalued - April 20, 2015
- WIFI WIRELESS NEW (OTCMKTS:WFWL), WiFi Calling and Apple Inc. (NASDAQ:AAPL) iPhone - April 20, 2015
- Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) and CLEAR TV DL (FRA:CLTV) - April 20, 2015
Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.
Tuesday's Technical Analysis: DJIA (.DJI) US30 Index (DJIA) CFD closed ... read more
Forex Technical Analysis: EUR, JPY, CHF, GBP The EUR/USD was ... read more
Gold And Silver Shorts Caught In 'Squeeze' Monday Precious metals ... read more
A '1031 Exchange' Defers Capital Gains Tax For American Collectors ... read more