Back
5 May 2016
EUR/USD: U.S. wrap- up - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the American dollar edged marginally higher against most of its major rivals, although commodity-related currencies under-performed, weighed by falling oil and gold prices, and poor local data.
Key Quotes:
"The EUR/USD pair aimed to recover above the 1.1500 figure, but failed to do so, and ended the day a handful of pips below the level. The release of the final Services and Composite readings for the month of April in the EU, showed that activity grew at a slower pace than initially estimated, indicating a tepid start of the second quarter.
Retail Sales in the EU, declined by 0.5% in March compared to the previous month, up by 2.1% compared to a year before, against expectations of a 2.5% advance. In the US, data came in mixed, with the ADP employment survey disappointing, as it showed that the private sector added 156,000 new jobs in March, although the Services sector grew by more than expected whilst new orders for U.S. factory goods also rose more than expected up by 1.1% after February's downwardly revised 1.9% decline."
Key Quotes:
"The EUR/USD pair aimed to recover above the 1.1500 figure, but failed to do so, and ended the day a handful of pips below the level. The release of the final Services and Composite readings for the month of April in the EU, showed that activity grew at a slower pace than initially estimated, indicating a tepid start of the second quarter.
Retail Sales in the EU, declined by 0.5% in March compared to the previous month, up by 2.1% compared to a year before, against expectations of a 2.5% advance. In the US, data came in mixed, with the ADP employment survey disappointing, as it showed that the private sector added 156,000 new jobs in March, although the Services sector grew by more than expected whilst new orders for U.S. factory goods also rose more than expected up by 1.1% after February's downwardly revised 1.9% decline."