EURUSD dropped on Friday and closed at 1.2831. The United States dollar strengthened after better than expected employment data from the US raised the speculation that the Federal Reserve may lower its monetary stimulus. The Non-farm Payrolls in the United States increased by 195K jobs in June. In the Eurozone the factory orders in Germany dropped 1.3 percent in June. The European Central Bank Executive Board member Benoit Coeure stated that the economy in the Eurozone should stabilize this year. Standard & Poor’s downgraded the sovereign credit rating of Portugal from “Stable” to “Negative”. Over the weekend EU and Greek officials stated that Greece is likely to reach a deal with its international creditors on Monday to unlock the further 8.1 billion Euro from the aid package. Investors are now awaiting the outcome of the Eurogroup Meetings taking place today. Support for the EURUSD is seen at 1.2809 and resistance is seen at 1.2923. The HotForex Traders Board shows that 67 percent of the traders are long on the EURUSD.
- See more at: http://blog.hotforex.com/eurusd-trading-lower-after-strong-employment/#sthash.XglJvnlc.dpuf
- See more at: http://blog.hotforex.com/eurusd-trading-lower-after-strong-employment/#sthash.XglJvnlc.dpuf
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