The upside surprise seen in the latest German unemployment numbers has given the Euro a small boost. February seasonally adjusted numbers came in at 9.3%, against the previous 9.5% headline and the expectations for a 9.4% reading. The data has helped underpin EUR/USD in the short-run but selling into the rebound to 1.3200 has limited any knee-jerk spot bounce.
In other news, the German Labour Office notes they "do not expect a further pick up in the labour market in the spring". A UK Clearer notes in their recent research that while EUR/USD remains below 1.3250 the pair looks a "technical sell". They tip selling with a 1.34+ stop for a return towards 1.30 mark with an eventual target in the 1.2525 area.
Looking ahead, 10:00 GMT Euro Zone data is still eyed but so are the 1.3185 stops with talk now circulating of an Asian C/B buying into the lows. Bids also seen into the 1.3180 area trailing back to more good size into 1.3175 and option related demand circa-1.3150.
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