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The rally in Europe and Wall Street put pressure on the Dollar that fell across the board and rose only against the Yen. The existing home sales data that came at 6.1M, better than the 5.7M expected and comments about interest rate staying at low levels for some time fueled stocks. Dow Jones closed at the highest level in 13 months and ended the session with a gain of 1.29%. NASDAQ rose by 1.4% and the S&P 500 increased by 1.36%. Gold (XAU) posted new record highs above $1,170. Crude Oil jumped at the early trading hours but closed almost unchanged near the 77.5$ a barrel. Today, the GDP expected at 3% vs. 3.5% previously. The CB Consumer Confidence expected unchanged at 47.7. Also, later Federal Open Market Committee will be expected.
The Euro strengthened against the Dollar trying to touch the 1.5 level but failed to breach above. The French PMI came out 54.2 worse than expected 55.4. The German Manufacturing PMI came out 52 better than expected 51.7. The Manufacturing PMI came out 51 worse than expected 51.4. Overall, EUR/USD traded with a low of 1.4832 and with a high of 1.5. Today, the German GDP expected unchanged at 0.7%. The German IFO Business Climate Index expected 92.5 vs. 91.9 previously. The Industrial New Orders expected at 0.6% vs. 2% previously.
EUR/USD - Last: 1.4948
|
Resistance |
1.5010 |
1.5050 |
1.5090 |
|
Support |
1.4920 |
1.4880 |
1.4855 |
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