Forex Technical & Market Analysis Hotforex

Forex Technical & Market Analysis Hotforex

Postby HFblogNews » Tue Sep 02, 2014 9:53 am

Date : 2nd September 2014

EURUSD TRADING NEAR ITS FRIDAY’S CLOSE. GERMAN FINAL GDP CAME OUT AS EXPECTED.


EURUSD rose yesterday and closed at 1.3127. The final release of the GDP for the second quarter in Germany showed a contraction to -0.2 percent in line with the market expectations. The Eurozone Final Manufacturing PMI contracted to a reading of 50.7 in August. The Spanish and Italian Manufacturing PMI also recorded a drop coming at readings of 52.8 and 49.8 accordingly. Prospects of potential further sanctions by the European Union leaders against Russia also flooded the market and pressurized the single European currency.

Data released today indicated that the Producer Price Index dropped -0.1 percent on a
monthly basis in July.

Investors are now looking forward for the US ISM Manufacturing PMI due later today.

Support for the EURUSD is seen at 1.3109 and resistance is seen at 1.3191.
HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers.
User avatar
HFblogNews
 
Posts: 1100
Joined: Thu Jun 26, 2014 7:28 am

Return to EUR/USD



cron