Forex: EUR/USD stable at 1.3145, Portugal sells €1.5B

[John Starks]

The EUR/USD went into free-fall from 1.3241 high to 1.3134 low, losing more than 100 pips during the European session has data from Euro countries and EMU show the contracting manufacturing figures intensifying, while the unemployment rates rise.

 

The EUR/USD is quoting around 1.3145 for now, below the 20-day MA at 1.3155. Below is the 100-day MA, at 1.3116 and the psychological level at 1.3100.

 

Meanwhile, Portugal sold €500 M of 6-month titles and €1 B of 12-months, at 2.935% (previous at 2.9%) and 3.908% (3.652%). Higher yields, but good cover.