FXstreet.com (Barcelona) - The EUR/USD kept rising across the board through the whole European morning after a sideways Asian session and the corrective movement from yesterday’s losses on the disappointing ECB turned into a full retracement, having reached Thursday’s opening price of 1.2224. The 200-hour MA is also sitting around there. The EUR/USD is already up at 1.2244 high.
June retail sales in the Euro area improved on the month by +0.1% and the annualized data came better than expected (actual -1.2% vs consensus of -1.4%). However, the YoY May figure was revised from -1.7% to -0.8%, which means a yearly decline from May to June.
From Italy, it’s being reported that the government won a final senate confidence vote on growth measures.
“We suspect while capped by yesterday’s high at 1.2406 that the market now be on the defensive”, wrote Commerzbank analyst Karen Jones, expecting 1.2130/15 to hold the downside ahead of 1.2042 (July low), while 1.2527 would be the upside target above 1.2406, but still directly offered.
June retail sales in the Euro area improved on the month by +0.1% and the annualized data came better than expected (actual -1.2% vs consensus of -1.4%). However, the YoY May figure was revised from -1.7% to -0.8%, which means a yearly decline from May to June.
From Italy, it’s being reported that the government won a final senate confidence vote on growth measures.
“We suspect while capped by yesterday’s high at 1.2406 that the market now be on the defensive”, wrote Commerzbank analyst Karen Jones, expecting 1.2130/15 to hold the downside ahead of 1.2042 (July low), while 1.2527 would be the upside target above 1.2406, but still directly offered.
