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Euro: EUR – to Dollar, USD slight shift following the release of U.S. economic reports

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Euro: EUR - to Dollar, USD slight shift following the release of U.S. economic reports

Euro: EUR – to Dollar, USD slight shift following the release of U.S. economic reports

After the publication of U.S. economic data on Thursday, the euro rose against the U.S. dollar, but still the single currency stuck at around the four month lows.

Exchange rate EUR / USD rose by 0.06% to 1.3539, still within reaching of a four-month low 1.3502 of last Thursday.

It is expected that the pair EUR / USD find support at 1.3500 and resistance at 1.3601, Tuesday’s maximum.

According to the Ministry of Labor, the number of people submitting applications for initial unemployment benefits increased in 4000 and reached 317 000. These figures differ significantly from previous forecasts, which had reduced the number of unemployed in 3000

However, these data were ignored and the positive opinion that the labor market continues to improve gradually still exists.

It is reported that retail sales in the U.S. soared to 0.3% in May, compared with a positive outlook (0.6%) is the same 0.3% difference.

According to the European market, last Thursday the ECB reduced the key rate to a record low and put negative deposit rates at commercial lenders to avoid the risk of deflation in the euro area. Despite of all the single currency in general remained weaker.

Slight improvements in the euro exchange rate occurred after the publication of data that industrial production in the euro area rose by 0.8% in April, which is significantly higher than the expected 0.4% increase.