Need To Know News

EUR/USD broke sharply after the 8:30am employment data but has been making steady gains back to near day high levels.  Worse than expected Construction Spending (-0.4%) and lower ISM MFG data suggests the U.S. economy is continuing to weaken.  EUR/USD resistance is up at 1.56, then at 1.5662 - the 9 day moving average.   Support is at 1.5515, the day low level.

This entry was posted on Friday, August 1st, 2008 at 11:09 am and is filed under FX, Market Environment. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.