He EUR/USD it has risen about 50 pips after the release of the US data. The cross has jumped above 1.2100 to ascend to 1.2141, new daily high.
US data returns some optimism to the market
The risk appetite has been activated again after the data of the GDP and weekly unemployment of the United States, since they have matched or improved the market forecasts. The DXY index that measures the greenback fell immediately, falling back towards 90.48, its new low for the day.
Weekly claims for US jobless benefits fell to 847,000 in the week of January 22, improving expectations of 875,000 and reaching the lowest figure since the week of January 1.
Continued jobless claims for the week of January 15 fell to 4,771,000 from 4,974,000 (down from 5,054,000). The result significantly improves the 5,054,000 requests expected by the experts.
For its part, the preliminary Gross Domestic Product for the fourth quarter of 2020 in the US grew by 4% annualized, as expected, well below the 33.4% seen in the third quarter of the year, but improving the negative results of the first and second quarter of the year.
EUR / USD levels
With the pair trading at time of writing above 1.2128, gaining 0.19% on the day, the next resistance in case of a further rally awaits at 1.2176, January 26 high, followed by 1.2222, January 13 high.
To the downside, the first support appears at 1.2053, the bottom of January 18. A break would point to 1.2000, and lower to the 1.1925 / 30 zone, where the lows of November 30 and December 1, 2020 are.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
