Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

US dollar regained positions against the euro currency on Friday, after the release of positive economic data from United States, which called back expectations of FED tapering its easing program in near future.

EUR/USD slid to session low at 1.2960 during early American session, after which consolidation followed at 1.2970. Support was meant to be received at 1.2915, lowest from May 27th, while resistance was expected at todays session high, 1.3060.

Earlier it was reported that Chicago PMI rose to 58.7 during May, above expectations which showed a reading of 50.0, while the April value pointed 49.0. The index recorded its highest level for more than a year and only a month after marking its weakest level for about three and a half years. Recovery of value was supported by increased activity in production, orders and employment.

Additionally, Final University of Michigan Confidence indicator also rose to 84.5 in May, surpassing projected value of 83.7, which reading was also stated during the previous period.

The euro came under pressure earlier today, after official data stated that the unemployment rate in the Euro zone reached a new record high of 12.2% in April, from 12.1% during the previous month.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • UK Mortgage Approvals Plummet, GBP/USD Holds Steady Near 1.2900UK Mortgage Approvals Plummet, GBP/USD Holds Steady Near 1.2900 Key momentsGBP/USD is maintaining relative stability around the 1.2900 mark. UK mortgage approvals fell significantly in February, reaching 65,481. The annual consumer lending growth stagnated at 6.4%, matching January's three-year […]
  • PBOC Lowers Daily Yuan Fix Against DollarPBOC Lowers Daily Yuan Fix Against Dollar Key Moments The People's Bank of China set the USD/CNY central parity rate at 6.7909 for Thursday's session. The new fixing marginally differed from the prior day's level of 6.7910. The official rate contrasted with a […]
  • Crude oil trading outlook: futures fall on US supply data, OPEC expectations dividedCrude oil trading outlook: futures fall on US supply data, OPEC expectations divided West Texas Intermediate and Brent crude fell in early European trading on Wednesday after private supply data showed a larger-than-expected build in US crude oil inventories last week. Brent remained near the lowest in more than four years as […]
  • Natural gas trading outlook: futures steady on mixed weatherNatural gas trading outlook: futures steady on mixed weather Natural gas was little changed in early European trading on Tuesday as market players weighed very warm weather across almost the entire US this week against an expected cooling to follow.Natural gas for delivery in October traded 0.26% […]
  • Spot Silver rises to new 2-month high above $87.50/oz.Spot Silver rises to new 2-month high above $87.50/oz. Spot Silver scaled a fresh 2-month high on Wednesday amid improving prospects for industrial demand despite expectations interest rates may stay elevated for longer.Silver is used in electronics, solar panels and other industrial […]
  • Forex Market: EUR/NOK daily forecastForex Market: EUR/NOK daily forecast During yesterday’s trading session EUR/NOK traded within the range of 8.1467-8.2263 and closed at 8.1656.At 6:21 GMT today EUR/NOK was losing 0.1% for the day to trade at 8.1584. The pair touched a daily low at 8.1535 at 5:59 […]