Forex: EUR/GBP hovering over 0.8575

After a failed attempt to rebound to the 0.8590 area, the pair is now back to the zone around 0.8575, after retail sales in the euro zone have contracted further during December. In fact, sales dropped 0.8% on a monthly basis and 3.4% over the last twelve months, against -0.3% and -1.1% expected, respectively.

Continuing with the data, UK services PMI climbed to 51.5 during January, leaving behinf December’s 48.9

At the moment the cross is up 0.04% at 0.8578 with the next hurdle at 0.8701 (high Feb.4) followed by 0.8717 (high Feb.1).
On the downside, a breach of 0.8552 (MA10d) would expose 0.8524 (low Jan.28).

Feb 5, 2013

Forex: EUR/USD eases after EMU retail sales, capped at 1.3546

The EUR/USD sharp bounce from 1.3458 low on the European session was capped at 1.3546 high, and the market is now easing to opening levels, at 1.3514. Now with EMU Retail Sales and Italian CPI data published, investors will keep an eye on SNB's Zurbrugg speech before US data comes in.

Forex Flash: EUR/AUD eyes pullback across multiple timeframes – Westpac

The EUR/AUD is showing tentative signs of pullback after a steep rise – near-term the pair should consolidate around 1.2930/1.3050. However according to Sean Callow, an FX Strategist at Westpac, “Given evidence that Japanese investors are rebuilding EUR holdings partly at the expense of AUD risks for the EUR/AUD are to the upside over the next 2-3 months, perhaps as far as 1.3300.”