3 Sep 2013
EUR/USD drops below 1.3180
FXstreet.com (Edinburgh) -The EUR/USD is now printing fresh weekly lows in sub 1.3180 levels on Tuesday, ahead of the opening bell in London.
EUR/USD focus on US docket
The euro zone calendar is not appealing at all on Tuesday, with only the Spanish Unemployment Change during August (-5.2K exp.) and EMU’s Producer Prices (0.1% YoY exp.) due during the European morning. Markets across the pond will be resuming its activity after yesterday’s holiday, with Markit Manufacturing PMI and ISM Manufacturing due later. Market consensus expects 54 and 54.5, respectively for the month of August. The releases will be in the limelight ahead of the next FOMC meeting, where – according to market expectations – the Fed could announce the tapering of its stimulus programme.
EUR/USD levels to watch
At the moment the pair is losing 0.12% at 1.3174 and a break below 1.3173 (low Aug.30) would bring 1.3143 (MA200d) and then 1.3115 (low Jul.22). On the upside, the initial hurdle aligns at 1.3255 (high Aug.30) followed by 1.3298 (low Aug.22) and finally 1.3322 (low Aug.27).
EUR/USD focus on US docket
The euro zone calendar is not appealing at all on Tuesday, with only the Spanish Unemployment Change during August (-5.2K exp.) and EMU’s Producer Prices (0.1% YoY exp.) due during the European morning. Markets across the pond will be resuming its activity after yesterday’s holiday, with Markit Manufacturing PMI and ISM Manufacturing due later. Market consensus expects 54 and 54.5, respectively for the month of August. The releases will be in the limelight ahead of the next FOMC meeting, where – according to market expectations – the Fed could announce the tapering of its stimulus programme.
EUR/USD levels to watch
At the moment the pair is losing 0.12% at 1.3174 and a break below 1.3173 (low Aug.30) would bring 1.3143 (MA200d) and then 1.3115 (low Jul.22). On the upside, the initial hurdle aligns at 1.3255 (high Aug.30) followed by 1.3298 (low Aug.22) and finally 1.3322 (low Aug.27).