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2 May 2013
Forex: EUR/USD sidelined around 1.3065/70
FXstreet.com (Barcelona) - After falling almost two big figures since today’s tops in the vicinity of 1.3220, the shared currency initiated a consolidation pattern around 1.3060/70, as the markets are heading for the last part of the trading session.
Recall that earlier comments by ECB’s Draghi regarding the likeliness of negative interest rates on deposits in case the euro zone conditions worsen have sparked a wave of selling interest in EUR.
Big day tomorrow for the FX markets, as April’s US Non-farm Payrolls are due. Prior surveys expect the US economy to have created 145K jobs vs. March’s 88K. Further data/events will see the US unemployment rate (7.6% exp.) and the Economic Growth Forecasts by the European Commission.
As of writing, the cross is retreating 0.87% at 1.3064 facing the next support at 1.3037 (low May 2) ahead of 1.2988 (low Apr.25) and finally 1.2968 (MA200d).
On the flip side, a breakout of 1.3220 (high May 2) would open the door to 1.3232 (daily cloud top) and then 1.3243 (high May 1).
Recall that earlier comments by ECB’s Draghi regarding the likeliness of negative interest rates on deposits in case the euro zone conditions worsen have sparked a wave of selling interest in EUR.
Big day tomorrow for the FX markets, as April’s US Non-farm Payrolls are due. Prior surveys expect the US economy to have created 145K jobs vs. March’s 88K. Further data/events will see the US unemployment rate (7.6% exp.) and the Economic Growth Forecasts by the European Commission.
As of writing, the cross is retreating 0.87% at 1.3064 facing the next support at 1.3037 (low May 2) ahead of 1.2988 (low Apr.25) and finally 1.2968 (MA200d).
On the flip side, a breakout of 1.3220 (high May 2) would open the door to 1.3232 (daily cloud top) and then 1.3243 (high May 1).