EUR/USD gains on Greek bond issue, positive U.S. data suppor

EUR/USD gains on Greek bond issue, positive U.S. data suppor

Postby hamiswatson » Sat Apr 12, 2014 12:08 am

The euro traded higher against the dollar on Friday, improved by Greece's return to capital markets, while the dollar saw some assistance on positive U.S. customer belief and wholesale prices data.

In U.S. exchanging, EUR/USD was up 0.08 % at 1.3898, up from a session low of 1.3863 and off a high of 1.3905.

The pair was likely to find support at 1.3673, the low from April 4, and resistance at 1.3948, the high from March 17.

The euro saw support after Greece made a successful go back to the financial markets on Thursday, raising 3 GBP billion in its very first bond auction since 2010, when Athens sought its very first bailout.

In the U.S., meanwhile, upbeat U.S. signs assisted the greenback and softened losses against the euro.

The initial Thomson Reuters/University of Michigan customer sentiment index came to 82.6 in April, exceeding forecasts for a 81.0 reading.

Individually, official information revealed that the U.S. manufacturer price index rose 0.5 % in March, surpassing expectations for a 0.1 % gain, after a 0.1 % fall the previous month.

Core manufacturer cost inflation, which is stripped of unpredictable food, energy and trade items, increased 0.6 % in March, beating requirements for a 0.2 % increase after a 0.2 % decline in February.

Still, growing market consensus that the Federal Reserve is nowhere near to tightening up plan kept the greenback lower against the single currency.

The euro was up against the pound, with EUR/GBP up 0.36 % to 0.8304, and up against the yen, with EUR/JPY up 0.10 % at 141.14.

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