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Forex: EUR/US hovering over 1.3565/70 after US data

The single currency posted no reaction after the US Factory Orders grew 1.8% on a monthly basis during December, beating November’s flat print although below the 2.2% expansion forecasted.

The euro is extending its intraday decline on Monday, in line with the opinion of Jane Foley, analyst at Rabobank, when she commented, “Our non-consensus view that EUR/USD would push higher has been vindicated, but we can’t help but feel uncomfortable with EUR/USD at current levels and are concerned that a correction is on the cards”.

As of writing, the cross is retreating 0.58% at 1.3571 with the immediate support 1.3542 (low Jan.31) followed by 1.3483 (low Jan.30).
On the other hand, a climb beyond 1.3660 (hourly high Feb.4) would bring 1.3711 (high Feb.1).

US: Factory Orders disappoint at 1.8% in December, November figure revised lower

In December, factory orders rose 1.8% in the US, disappointing the consensus of a rise by 2.2%. November data was revised lower, from unchanged to -0.3%.
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Forex: EUR/JPY at 125.50/126.00

The EUR/JPY eventually failed to hold above the 126.00 mark and eased further to 125.50 ahead of the NY session. Since then, the market has been ranging at 125.50/126.00, with no breach in sight yet. In the meanwhile, Factory Orders in the US was published.
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