Forex: EUR/USD keeps the area of 1.3050/60

More positive data from the euro area, as the retail sales rose 1.2% on a monthly basis, and contracted 1.3% over the last twelve months, surpassing the median at +0.2% and -2.9%, respectively. The single currency remained mute in the wake of the release, hovering over the area of 1.3050/60

Further data would bring the US IBD/TIPP Economic Optimism and the ISM Non Manufacturing PMI, expected at 46.3 and 55.0, respectively.

EUR/USD is now up 0.25% at 1.3058 with the next resistance at 1.3101 (high Mar.1) ahead of 1.3108 (MA10d) and then 1.3114 (Ichimoku Cloud Base).
On the flip side, support levels line up at 1.3018 (low Mar.5) ahead of 1.2982 (low Mar.4) and then 1.2966 (2013 low Mar.1).

Mar 5, 2013

EMU: Annual Retail Sales decline slows down in January

On an annual basis Eurozone Retail Sales fell 1.3% in January, compared with the 3% decrease the previous month, Eurostat reported on Tuesday. This result is more positive than the expected 2.9% drop.

Forex: USD/CHF trading at 0.9400 level after EMU retail figures

The USD/CHF recovered the mark of 0.9405/06 in recent minutes, after the reporting of economic data in the EMU. Despite better-than-projected data, the figures still paint a gloomy picture of Europe that remains gripped in recession. With the 0.9400 level intact, the pair now trades at the precipice of positive territory during European trading Tuesday.