EURUSD on Thursday rose 0.04% to 1.06904. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.04%	4.8 Pips
Week to-date	-0.32%	-34.6 Pips
May	0.04%	4.8 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor
🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
🇪🇺 Harmonised Index of Consumer Prices (HICP) (12-mth) in May below forecast and dropped to 6.1% compared to previous figure 7% in April Eurostat
🇪🇺 Euro Area Unemployment Rate in April dropped to 6.5% compared to previous figure 6.6% (revised from 6.5%) Eurostat
🇩🇪 Retail Trade Turnover (12-mth) in April below forecast and improved to -4.3% compared to previous figure -8.6% in March Destatis

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.04% to 1.06904. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06692 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.06952 or trades above daily pivot 1.06822. Break above could target R1 at 1.07034. While to the downside, we are looking at 1.06692 (S1) and daily low of 1.06610 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.06952 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.32%.

Key levels to watch out:

You might be interested in:

In Q1 2023, prices of buildings’ maintenance and improvement works rose by 2.3% over a quarter and by 8.9% over a year. INSEE
In March 2023, manufacturing turnover bounced back (+2.1%). INSEE
In Q1 2023, services producer prices rose by 0.2% over a quarter and by 3.0% over a year. INSEE
In April 2023, agricultural producer prices fell markedly year on year (‑6.7% after ‑1.3 %). INSEE
In May 2023, consumer prices increased by 5.1% year on year. INSEE
Inflation rate expected in May 2023 +6.1%. Statistisches Bundesamt (Destatis)
In Q1 2023, GDP grew moderately (+0.2%) while the purchasing power of household GDI per consumption unit fell (-0.6%). INSEE
Services output was almost stable in March 2023 (‑0.1%). INSEE
In April 2023 the industrial producer prices fell back sharply over a month (-4.1%) and decelerated over a year (+5.0% after +9.5%). INSEE
Household consumption of goods decreased by 1.0% in April 2023. INSEE
In March 2023, sales volume in trade decreased (‑0.6%). INSEE
Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve
In Q1 2023, prices of second-hand dwellings fell by 0.2%. INSEE

Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.