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Forex: EUR/USD around 1.3350 ahead of US retail sales

By FXstreet.com,  January 15, 2013, 06:15:00 AM EDT

FXstreet.com (Barcelona) - The bloc currency remains stuck in the mid 1.3300s on Tuesday, ahead of the most significant release in the US economy today, December Retail Sales. Prior surveys expect the sales to rise 0.2% on a monthly basis, a hair lower than November's +0.3%. Stripping the automobile sector, sales are expected to improve 0.2% vs. a flat reading in the previous month.

In another tone, the Spanish short-term auction of Letras followed the broader negative trend in yields, posting 1.687% and 1.472% in 18m and 12m, respectively.

The pair is losing 0.25% at 1.3348 and a dip below 1.3336 (low Jan.14) would allow 1.3249 (low Jan.11) en route to 1.3200 (MA21d).
On the flip side, a break above 1.3404 (high Jan.14) would expose 1.3487 (2012 high Feb.24) and then 1.3491 (50% of 2011-2012 drop).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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