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29 May 2013
EUR/USD apathetic after German, EMU data
FXstreet.com (Barcelona) - The shared currency remained on the sidelines after the German employment data came in mixed during May.
The German jobless rate was unchanged at 6.9% despite the increase in the Unemployment Change by 21K vs. 5K expected. Further results in the EMU showed that the M3 Money Supply rose at an annual pace of 3.2% in April, exceeding forecasts and March’s print while Private Loans contracted 0.9% from -0.7% previous. Next on tap will be the advanced inflation figures in Germany for the month of May, expected to rise 1.3% over the last twelve months.
EUR/USD is now up 0.10% at 1.2869 with the next hurdle at 1.2885 (MA10d) ahead of 1.2950 (high May 28) and then 1.2968 (MA21d). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).
The German jobless rate was unchanged at 6.9% despite the increase in the Unemployment Change by 21K vs. 5K expected. Further results in the EMU showed that the M3 Money Supply rose at an annual pace of 3.2% in April, exceeding forecasts and March’s print while Private Loans contracted 0.9% from -0.7% previous. Next on tap will be the advanced inflation figures in Germany for the month of May, expected to rise 1.3% over the last twelve months.
EUR/USD is now up 0.10% at 1.2869 with the next hurdle at 1.2885 (MA10d) ahead of 1.2950 (high May 28) and then 1.2968 (MA21d). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).