The EURUSD pair is trading higher shortly after the U.S. market opening. The 15 December EURUSD Fundamental Drivers Analysis gives a brief insight on the pair.
15 December, OctaFX – Yesterday’s US retail sales data showed a boost in sales for the month of November which helped the US dollar post some gains during the US trading session. Data showed that Americans are spending more in this holiday season than expected. On the negative side, initial jobless claims for the week ended on 9 December decreased by 11,000 to an adjusted 225,000 as compared to the expected 235,000. Today is relatively a calm day with respect to data releases.
This morning at 10:00 GMT, the Eurozone trade balance will be released which is expected to hit 24.4 billion as compared to 25.0 billion in the previous month.
15 December EURUSD Fundamental Drivers Analysis
EUR/USD keeps trading on the downside while proceeding towards the immediate support at 1.1764 (today’s Asian session low so far) and also capped by the descending 20-period moving average, which crossed below the 50-period moving average hence restricting the upside movement. As far as price remains below 1.18619 (yesterday’s high) it is most likely to sink below 1.17640 and 1.7294 (last week’s low).
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