EUR/USD Finds Support Near 1.1400 on Mixed Data

Tuesday, 5 February 2019 19:03 WIB



After bottoming out in the vicinity of the 1.1400 mark, EUR/USD is now attempting to rebound following the mixed results from the EMU docket.

Spot has managed to stage a mild rebound after Services PMI in the euro bloc unexpectedly rose to 51.2 during the first month of the year (from 50.8). However, on the soft note, Retail Sales in the region contracted at a monthly 1.6% during December.

In the meantime, the persistent buying interest around the greenback continues to keep spot under pressure despite the prevailing mild risk-on sentiment in the global markets on speculations of further progress in the US-China trade talks.

Later in the day, the US ISM Non-manufacturing will grab all the attention seconded by the IBD/TIPP index and the API weekly report.

Source : FX Street


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