EUR/USD remains below key 1.12 figure - FXStreet
|Valeria Bednarik, chief analyst at FXStreet explained that month-end fixing alongside with poor US data sent the greenback lower across the board at the beginning of the US session.
Key Quotes:
"Although the EUR/USD pair remained well limited below the 1.1200 figure, to end the US day pretty much unchanged, around the 1.1130/40 region. At the end of the day, the dollar is mixed, but mostly higher across the board.
German data was again encouraging, with April Retail sales up by 2.3% compared to the same month a year before, and unemployment rate down to 6.1% in May. In the EU, however, inflation fell as expected by 0.1% according to May preliminary readings, down for a third month in the last four. In the US personal spending rose by 1.0% in April, the only good news of the day, as the Chicago Business Barometer fell 1.1 points to 49.3 in May from 50.4 in April, the lowest level since February. Also, consumer confidence decline further in May, down to 92.6 from previous 96.0."
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