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8 Mar 2013
Forex: EUR/USD off 1.2956 low
After extending this week's fall to 1.2956, the market is taking profits from that plunge triggered by stronger than expected US nonfarm payrolls and allowing a bounce towards the 1.3000 psychological level. Meanwhile, the US wholesale inventories were published.
Analysts were expecting a 0.3% rise in January, but wholesale inventories in the US surprised with a +1.2% change. December data was revised higher from -0.1% to +0.1%. The economic calendar is now empty for the rest of the day. However, at 01:00 GMT of Saturday, FOMC member Duke will make a speech.
US nonfarm payrolls, added 236K jobs in February instead of the 160K consensus. January data, however, was revised lower from 159K to 116K. The unemployment report dropped unexepectedly from 7.9% to 7.7%, against an unchanged consensus. Average weekly hours rose slightly from 34.4 to 34.5 and hourly earnings rose 0.2% in February, as expected.
Mataf.net analysts point to resistance at 1.3130, 1.3160 and 1.3225, while supports are at 1.2965.
Analysts were expecting a 0.3% rise in January, but wholesale inventories in the US surprised with a +1.2% change. December data was revised higher from -0.1% to +0.1%. The economic calendar is now empty for the rest of the day. However, at 01:00 GMT of Saturday, FOMC member Duke will make a speech.
US nonfarm payrolls, added 236K jobs in February instead of the 160K consensus. January data, however, was revised lower from 159K to 116K. The unemployment report dropped unexepectedly from 7.9% to 7.7%, against an unchanged consensus. Average weekly hours rose slightly from 34.4 to 34.5 and hourly earnings rose 0.2% in February, as expected.
Mataf.net analysts point to resistance at 1.3130, 1.3160 and 1.3225, while supports are at 1.2965.