FXStreet (Edinburgh) - The euro is battling to keep the 1.3600 handle vs. the greenback on Thursday, with the EUR/USD hovering over 1.3605/00 so far.

EUR/USD down from 1.3650

Spot is now accelerating the correction lower from yesterday’s peaks near 1.3650, putting the key barrier at 1.3600 to the test after higher US inflation figures measured by the Personal Consumption Expenditure during the month of May. Further US data also showed Initial Claims matching estimates at 312K in the week ended on June 20th, leaving the USD stance almost unchanged. “The release of the latest euro-zone inflation report for June may weigh on the euro in the week ahead if it reveals further evidence that disinflation pressures continue to build. However, downside risks for the euro appear only modest as the ECB is unlikely to announce further easing in the near-term”, assessed analysts at BTMU.

EUR/USD levels to watch

As of writing the pair is losing 0.12% at 1.3612 and a breach of 1.3583 (low Jun.24) would target 1.3574 (low Jun.23) en route to 1.3565 (low Jun.20). On the flip side, the initial hurdle lines up at 1.3651 (high Jun.25) followed by 1.3669 (high Jun.9) and finally 1.3672 (200-d MA).

Related Articles
  1. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  2. Forex Fundamentals

    These Currencies Are The Biggest Losers Of The Stock Downturn

    Here’s a list of the hardest-hit currencies amid the global stock market mayhem.
  3. Forex Strategies

    Will the Euro Continue to Rally? (EUO)

    The euro is rallying. Should investors chase this performance or is the real opportunity on the other side of the trade?
  4. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  5. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  6. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  7. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  8. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  9. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  10. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
COMPANIES IN THIS ARTICLE
Trading Center