Forex: EUR/USD picking up pace after PMI

FXstreet.com (Barcelona) - The shared currency has regained the area of 1.3165/70 on Thursday, after the better final figures from the manufacturing PMI prints in Germany and the EMU for the month of Arpil, printing 48.1 and 46.7, respectively vs. estimates at 47.9 and 46.5. The results however, are lower than March’s readings.

Next on tap will be a French 10-year bond auction, preceding the ECB interest rate decision and the subsequent press conference by President Mario Draghi.

At the moment, the cross is down 0.08% at 1.3167 with the next support at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).
On the flip side, a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).

May 2, 2013

Commodities Brief – Precious metals in retreat ahead of ECB rate decision

Gold prices fell yesterday, after making a failed attempt at the 1478 resistance level, however the yellow metal ultimately found support at the 1448 region, as break with at least four-hour closing below 1448 is required to confirm further losses. Ahead of the highly anticipated ECB rate decision later today, the price of gold is trading off its 1458 handle, to settle at USD $1456.20 per oz. during European trading Thursday.

Forex: EUR/GBP down at 0.8456 on European opening

After an early drop to 0.8465 in the Asian shift that was retraced back to the opening area of 0.8470/75, the EUR/GBP tumbled ahead of Markit manufacturing PMI data in the Euro area and extended losses to 0.8456 low. The market remains pressured and able to suffer further losses.