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6 Feb 2013
Forex: EUR/USD muted around 1.3510/15
The single currency extends its congestion pattern around 1.3510/15, as we are entering the last part of the NA session on Wednesday.
Jammed docket in the euro area on Thursday, where the biggest event would be the ECB meeting, seconded by French trade balance figures, ahead of Spanish and German industrial production. Of note as well is that the European Commission would release its economic growth forecasts. Sharing the headlines with the ECB, the BoE MPC would hold its monthly meeting as well.
As of writing, EUR/USD is losing 0.50% at 1.3514 with the immediate support lying at 1.3494 (low Feb.6) followed by 1.3459 (low Feb5) and then 1.3415 (low Jan.29).
On the upside, a climb beyond 1.3598 (high Feb.5) would aim for 1.3620 (intraday support Feb.4) and then 1.3660 (high Feb.4).
Jammed docket in the euro area on Thursday, where the biggest event would be the ECB meeting, seconded by French trade balance figures, ahead of Spanish and German industrial production. Of note as well is that the European Commission would release its economic growth forecasts. Sharing the headlines with the ECB, the BoE MPC would hold its monthly meeting as well.
As of writing, EUR/USD is losing 0.50% at 1.3514 with the immediate support lying at 1.3494 (low Feb.6) followed by 1.3459 (low Feb5) and then 1.3415 (low Jan.29).
On the upside, a climb beyond 1.3598 (high Feb.5) would aim for 1.3620 (intraday support Feb.4) and then 1.3660 (high Feb.4).