- EUR / USD extends bounce from lows in over a year.
- The dollar corrects down, but maintains the trend in favor.
The EUR / USD is rising for the first time after falling for five consecutive days. In this way it tries to recover after having fallen to a minimum in more than a year. Early on Friday it tested the zone lows at 1.1560 but held above. It recently extended the raises, before US data and reached up to 1.1605.
The EUR / USD advance is being driven by a general correction in the dollar. After several days on the rise, the greenback loses strength, prompting profit-taking. In any case, the trend still has it in its favor.
The publication round of several US economic reports will begin shortly.. At 12:30 GMT it will be the turn of the personal income and expenditure report, which includes the inflation index of personal consumption expenditure. Later it will be the turn of the Markit IHS Manufacturing PMI, the Manufacturing ISM, construction spending and the consumer confidence report from the University of Michigan.
In addition, Patrick Harker of the Philadelphia Fed and Loretta Mester of the Cleveland Fed will present in public. In an earlier interview, Kashkari of the Minesotta Fed spoke in favor of an early cut in the purchasing program.
Technical levels
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