• 
• See all for FXstreet.com
• View Print Version

FXstreet.com (Barcelona) - The single currency slid 0.10% against sterling despite positive results from economic indicators of the eurozone during the early hours of the European trading session. The EMU's M3 money supply grew more than expected, reaching 3.2% and 2.8% YoY and 3M growth, respectively. Retail sales in the EMU's biggest economy, Germany, have grown MoM and YoY by 0.8% and 2.3%, respectively. At the same time, S&P downgraded 16 Spanish banks, which could explain why the euro is retreating despite positive indicators.

The pair is currently trading at 0.8125, below 0.8508 (200 SMA), facing resistance at 0.8171, ahead of 0.8194 and 0.8212, according to Fxstreet.com pivot points on technical tools. On the downside, there is support at 0.8130, before 0.8112 and 0.8089.

Related Forex and Currencies Articles

• 
  U.S. futures sharply lower amid Fed fears; Dow Jones down 0.68%
  5/23/2013 04:27 AM
• 
  European stocks remain lower on China, Fed worries; Dax down 2.30%
  5/23/2013 04:26 AM
• 
  Soft futures mixed; Coffee extends losses to hit 3-year low
  5/23/2013 04:25 AM