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EUR/USD2013-11-06 11:25 UTC

EUR-USD received mild support from Eurozone services PMI data. There were mixed national readings, but the main services and composite readings were revised higher. EUR-USD drifted towards 1.3510, though follow through was contained by EUR-GBP heaviness under 0.8390, along with an overhang of offers from 1.3530 to 1.3550. Short term accounts are still positioning for the downside ahead of tomorrow's ECB meeting, though activity has been on ... Read More 

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XE Market Analysis

  • North American Edition2013-11-06 11:25 UTC

    Risk appetite picked up during the European morning after a mixed overnight session. GBP added to Tuesday's gains after U.K. manufacturing and production data beat expectations, which lifted Cable above 1.6100 and left EUR-GBP heavy below 0.8400. EUR benefited from an upward revision in Eurozone composite PMI, although it was still down from September and the national readings were mixed. Eurozone retail sales came in on the weak side, though there was no ... Read More 

  • European Edition2013-11-06 07:29 UTC

    The FX majors consolidate in Asia and were largely unchanged from Tuesday's N.Y. closing levels. Good U.S. data revived expectations that the Fed could taper policy in December, which provided a modicum of support for the dollar on dips, though larger flows were still minimal ahead of Thursday's ECB policy outcome and key U.S. data later this week. EUR continued to move in a narrow range close to 1.3500 and USD-JPY traded around 98.50 in Asian trade. The ... Read More 

  • Asian Edition2013-11-05 18:34 UTC

    The dollar firmed up versus most major currencies in N.Y. trade on Tuesday, as EU growth projections were trimmed, and EU PPI softened further. In addition, U.S. non manufacturing ISM printed better than expected levels, Wall Street took Europe's losing lead early on, though managed to recover later in the session on the back of the improved ISM. Treasury yields bounced early in the session, putting another brace under the greenback. EUR-USD traded from ... Read More 

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