Forex: EUR/USD stays below 1.3000 after US data

FXstreet.com (Córdoba) - The euro remains under pressure across the board and it is consolidating losses versus the greenback at the beginning of the New York session after the most recent bounce attempt was capped by the 1.3000 mark.

The EUR/USD stood virtually unchanged after the latest string of US data showed the US Markit PMI came in lower-than-expected in April, while housing prices rose slightly in February.

Most of the decline of EUR/USD today was in response to the weaker than expected April German PMI readings. The pair is currently trading around 1.2980/90, recording a 0.6% loss on the day, having bottomed out at 1.2972.

Apr 23, 2013

US: Housing Price Index rose 0.7% in February

Having risen 0.6% in January, the US housing price index rose once again in February, increasing the pace to 0.7%, according to the Office of Federal Reserve Housing Enterprise Oversight.

Commodities Brief – Precious metals held by key resistances, crude fortified above 88.00

The yellow metal was rebuffed by the 1428 resistance Tuesday, unable to achieve prolonged stability above this key upside mark. Having failed to summit this level, the price has fallen lower, trading negatively during US trading. With a bearish engulfing now present for gold, the price has settled currently at USD $1418.26 per oz. A retest or breach of the 1428 level will ultimately cancel the bearish outlook.