23 Jul 2015
EUR/USD shrugs off data, back to 1.1000
FXStreet (Córdoba) - EUR/USD shrugged off strong US claims data and disappointing Eurozone confidence numbers and managed to climbed back to near 1.1000 following a short-lived drop.
EUR/USD came under sudden pressure and dropped to a session low of 1.0950 as the dollar received a boost as jobless claims hit a 4-decade low. However, the bearish pressure quickly faded, allowing the shared currency to return to the 1.1000 area.
At time of writing, the pair is trading at 1.0995, up 0.63% on the day. EUR/USD had hit a 1-week high of 1.1017 minutes before jobless claims data release.
USD fails to sustain gains despite data
On the data front, US initial jobless claims hit a 4-decade low of 255K last week, while June leading index rose 0.6% versus 0.2% anticipated. On the other side of the pond, Eurozone consumer confidence deteriorated in July, according to a flash estimate, with the index falling to -7.1 versus -5.68 expected.
EUR/USD came under sudden pressure and dropped to a session low of 1.0950 as the dollar received a boost as jobless claims hit a 4-decade low. However, the bearish pressure quickly faded, allowing the shared currency to return to the 1.1000 area.
At time of writing, the pair is trading at 1.0995, up 0.63% on the day. EUR/USD had hit a 1-week high of 1.1017 minutes before jobless claims data release.
USD fails to sustain gains despite data
On the data front, US initial jobless claims hit a 4-decade low of 255K last week, while June leading index rose 0.6% versus 0.2% anticipated. On the other side of the pond, Eurozone consumer confidence deteriorated in July, according to a flash estimate, with the index falling to -7.1 versus -5.68 expected.