Forex: EUR/USD around 1.3120/25, Spanish data eyed

FXstreet.com (Barcelona) - After hitting intraday highs around 1.3140 overnight, the shared currency retreated to the current area of 1.3115/20 ahead of the Spanish Unemployment Change and the final Services PMI print for the month of April. Prior surveys expect the headlines to rise to 17.1K and to 45.7, respectively.

At the moment, the cross is losing 0.02% at 1.3120 with the next support at 1.3033 (low May 3) ahead of 1.3015 (low Apr.29) and finally 1.3000 (low Apr.29).
On the flip side, a breakout of 1.3160 (high May 3) would bring 1.3220 (high May 2) and then 1.3243 (high May 1).

May 6, 2013

Forex Flash: Australia weak data a case for RBA to ease as early as tomorrow - NAB

As today's Australian data release shows, “Consumers and economy downshifted in March-April,” noted Senior Economist at the NAB David de Garis, suggesting there is a “case for RBA easing still there,” the analyst says, which “could be as early as tomorrow,” he points out.

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May 6, 2013

Asian markets up on solid US NFP

A quiet Asian session, with Japan out of the game once again, celebrating Children’s Day, and most equity indexes edging higher on Monday. Excluding South Korea’s Kospi (-0.10%), Mainland China’s Shanghai Composite (+1.14%), India’s Bombay Sensitive (+0.30%), Hong Kong’s Hang Seng (+1.03%), Indonesia’s Jakarta Composite (+1.06%) and Singapore’s Straits Times (+0.62%) added gains. Australia’s S&P/ASX 200 rose 0.47% the day before the RBA interest rate decision despite a contraction in retail sales by -0.4% (consensus of +0.2%) in March (MoM). HSBC China services PMI eased from 54.3 to 51.1 in April. Asian equity indexes were mostly boosted by the solid US nonfarm payrolls report published on Friday.

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