FXstreet.com (Barcelona) - The euro is now hovering over the 1.2500 mark, threatening to pierce yesterday’s lows around 1.2490 after German retail sales came in worse than expected, contracting 0.9% MoM and 1.0% in the year through July.
Busy morning in the EU data front: Spanish retail sales, Italian CPI and unemployment rate, EMU inflation figures and jobless rate and Greece retail sales. In the US, Chicago PMI index, factory orders and Reuters/Michigan consumer sentiment index are also due.
The cross is now printing fresh session lows at 1.2495, or -0.12% facing the next support at 1.2488 (MA10d) ahead of 1.2465 (low Aug.28) then 1.2431 (low Aug.22) and 1.2400 (psychological level).
Busy morning in the EU data front: Spanish retail sales, Italian CPI and unemployment rate, EMU inflation figures and jobless rate and Greece retail sales. In the US, Chicago PMI index, factory orders and Reuters/Michigan consumer sentiment index are also due.
The cross is now printing fresh session lows at 1.2495, or -0.12% facing the next support at 1.2488 (MA10d) ahead of 1.2465 (low Aug.28) then 1.2431 (low Aug.22) and 1.2400 (psychological level).
