EUR/USD off highs post US data, near 1.0640
|EUR/USD has now quickly faded the spike to session highs near 1.0680, coming back to the 1.0640/30 band in the wake of US results.
EUR/USD unchanged on data
The pair has practically posted no reaction despite US Retail Sales have come in a tad lower than expectations during December, expanding at a monthly 0.6% (vs. 0.7% forecasted).
Further data saw sales excluding the Autos sector following suit, up 0.2% vs. 0.5% initially estimated.
On a brighter side, Core Producer Prices have surprised to the upside, rising 0.2% inter-month and 1.6% over the last twelve months. Headline prices matched consensus at 0.3% MoM and 1.6% YoY.
Spot remains in the positive territory for the time being, managing to stay above the 1.0600 handle and on its way to close its fourth consecutive week with gains.
Later in the NA session, the advanced gauge of US Consumer Sentiment is due, with market bets seeing an improvement to 98.5 in January.
EUR/USD levels to watch
The pair is now gaining 0.25% at 1.0639 facing the next hurdle at 1.0658 (high Jan.13) ahead of 1.0687 (high Jan.12) and finally 1.0798 (high Dec.5). On the other hand, a breakdown of 1.0508 (low Jan.9) would target 1.0495 (20-day sma) en route to 1.0452 (low Jan.11).
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