11 Aug 2015
EUR/USD regains 1.1000
FXStreet (Edinburgh) - The shared currency is now trimming earlier losses vs. its American counterpart on Tuesday, taking EUR/USD to another visit of the 1.10 mark and beyond.
EUR/USD attention to ZEW
The recent recover of the pair has run out of legs in the area of 1.1040 on Monday, surrendering those gains in response to the move by the PBoC overnight. Recall that the PBoC has devaluated the RMB on an attempt to support the domestic export sector and to bolster the potential inclusion of the RMB in the IMF’s SDR basket, to be decided later this year.
Data wise in Euroland, the ZEW Survey is due in Germany and the euro bloc as a whole, with consensus expecting slight improvements. Nothing of relevance across the pond, with only Unit Labor Costs, Nonfarm Productivity and the NFIB index to be released today.
EUR/USD relevant levels
As of writing the pair is down 0.12% at 1.1004 with the next hurdle at 1.1033 (high Aug.11) ahead of 1.1080 (high Jul.29) and finally 1.1113 (high Jul.31). On the downside, a break below 1.0961 (low Aug.11) would target 1.0855 (low Aug.7) en route to 1.0848 (low Aug.5).
EUR/USD attention to ZEW
The recent recover of the pair has run out of legs in the area of 1.1040 on Monday, surrendering those gains in response to the move by the PBoC overnight. Recall that the PBoC has devaluated the RMB on an attempt to support the domestic export sector and to bolster the potential inclusion of the RMB in the IMF’s SDR basket, to be decided later this year.
Data wise in Euroland, the ZEW Survey is due in Germany and the euro bloc as a whole, with consensus expecting slight improvements. Nothing of relevance across the pond, with only Unit Labor Costs, Nonfarm Productivity and the NFIB index to be released today.
EUR/USD relevant levels
As of writing the pair is down 0.12% at 1.1004 with the next hurdle at 1.1033 (high Aug.11) ahead of 1.1080 (high Jul.29) and finally 1.1113 (high Jul.31). On the downside, a break below 1.0961 (low Aug.11) would target 1.0855 (low Aug.7) en route to 1.0848 (low Aug.5).