Forexpros - The euro rose against dollar on Thursday after profit-takers
sold the greenback and cooled its earlier gains made on strong U.S.
service-sector and jobs data.
In Asian trading on Thursday, EUR/USD was trading up 0.09% at 1.2918, up from a session low of 1.2917, and off from a high of 1.2924.
The pair was likely to test support at 1.2880, Tuesday's low, and resistance at 1.2937, Wednesday's high.
In the U.S. earlier, the Institute of Supply Management revealed that its services purchasing managers' index rose to 55.1 in September from a reading of 53.7 in August.
Analysts had expected the index to decline to 53.2 in September.
Good news on the U.S. employment front sent the greenback rising as well.
Payroll processing firm ADP reported earlier that the U.S. private sector added a seasonally adjusted 162,000 jobs in September, surpassing expectations for an increase of 143,000.
The August figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
The U.S. Department of Labor will release its official September jobs report on Friday, and the ADP numbers boosted expectations the labor market may show signs of improvement.
Meanwhile hopes persist that Spain will seek a bailout, but a lack of clear signals out of Europe over Madrid's intentions to seek rescue financing sent investors selling the euro.
Solid sales data, however, brought in the bottom fishers.
Retail sales rose in August, according to official data.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Year-over-year retail eurozone sales fell at an annualized rate of 1.3% in August, compared to expectations for a 1.9% decline, after falling at a revised rate of 1.4% in July.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP trading down 0.02% at 0.8026, and EUR/JPY trading up 0.08% at 101.37.
Later Thursday, in the eurozone, the ECB will announce its latest decision on benchmark interest rates. Following the announcement, bank head Mario Draghi will hold a press conference, which will be closely watched for details of the bank’s bond purchasing program.
Meanwhile, in the U.K., the Bank of England is to announce its latest decision with its benchmark interest rate as well.
The U.S. is to release weekly government data on unemployment claims, as well as official data on factory orders. Later in the day, the Federal Reserve is to produce the minutes of its September policy meeting.
In Asian trading on Thursday, EUR/USD was trading up 0.09% at 1.2918, up from a session low of 1.2917, and off from a high of 1.2924.
The pair was likely to test support at 1.2880, Tuesday's low, and resistance at 1.2937, Wednesday's high.
In the U.S. earlier, the Institute of Supply Management revealed that its services purchasing managers' index rose to 55.1 in September from a reading of 53.7 in August.
Analysts had expected the index to decline to 53.2 in September.
Good news on the U.S. employment front sent the greenback rising as well.
Payroll processing firm ADP reported earlier that the U.S. private sector added a seasonally adjusted 162,000 jobs in September, surpassing expectations for an increase of 143,000.
The August figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
The U.S. Department of Labor will release its official September jobs report on Friday, and the ADP numbers boosted expectations the labor market may show signs of improvement.
Meanwhile hopes persist that Spain will seek a bailout, but a lack of clear signals out of Europe over Madrid's intentions to seek rescue financing sent investors selling the euro.
Solid sales data, however, brought in the bottom fishers.
Retail sales rose in August, according to official data.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Year-over-year retail eurozone sales fell at an annualized rate of 1.3% in August, compared to expectations for a 1.9% decline, after falling at a revised rate of 1.4% in July.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP trading down 0.02% at 0.8026, and EUR/JPY trading up 0.08% at 101.37.
Later Thursday, in the eurozone, the ECB will announce its latest decision on benchmark interest rates. Following the announcement, bank head Mario Draghi will hold a press conference, which will be closely watched for details of the bank’s bond purchasing program.
Meanwhile, in the U.K., the Bank of England is to announce its latest decision with its benchmark interest rate as well.
The U.S. is to release weekly government data on unemployment claims, as well as official data on factory orders. Later in the day, the Federal Reserve is to produce the minutes of its September policy meeting.
0 comments:
Post a Comment