fxs_header_sponsor_anchor

News

EUR/USD around 1.1750 post-US data

  • Spot stayed unchanged on US data.
  • US durable goods orders missed estimates in October.
  • FOMC minutes up next on the US calendar.

EUR/USD keeps the bid tone intact on Wednesday and is now navigating the area around 1.1750 in the wake of US data releases.

EUR/USD now looks to FOMC minutes

The pair continues to advance albeit at a snail pace after bottoming out in the boundaries of 1.1710 earlier in the week, always on the back of a softer bias around the greenback and ahead of the release of the FOMC minutes later in the NA session.

USD failed to gain some traction after US durable goods orders contracted at a monthly 1.2% in October, coming in below market consensus. In addition, initial claims rose 239K on a weekly basis, bettering prior surveys

The demand for the buck stays subdued so far today after Yellen warned on Tuesday about raising rates too quickly, adding at the same time that inflation expectations have lost some traction in past months.

Ahead in the session, the greenback should remain in centre stage in light of the release of the FOMC minutes.

EUR/USD levels to watch

At the moment, the pair is gaining 0.12% at 1.1752 and a breakout of 1.1808 (high Nov.20) would target 1.1823 (high Nov.17) en route to 1.1860 (high Nov.15). On the flip side, the immediate support aligns at 1.1713 (low Nov.21) seconded by 1.1686 (21-day sma) and finally 1.1554 (low Nov.7).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.