Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Top Stories
by ForexNewsNow Team on August 16th, 2010

EUR/USD rallies as EU current account, ZEW data awaited

NEW YORK (Forex News Now) – The euro extended its rebound against the dollar into a second day on Tuesday, as FX traders awaited key data on German economic sentiment and the euro zone current account.

In European morning currency trading, EUR/USD struck 1.2843, up 0.13 percent on the day.

The European Central Bank was set later to release its June report on the euro zone current account, the difference in value between imported and exported goods, services, income flows, and unilateral transfers.

According to forex analysis, EUR/USD was likely to touch immediate support around the low of July 21, 1.2732, and encounter resistance around last Thursday’s high, 1.2932.

The euro’s gains also came ahead of a key report from the ZEW research institute on economic sentiment in Germany in August, and data on the U.S. housing market and manufacturing sector.

Elsewhere, the euro rose versus sterling: EUR/GBP traded at 0.8202, up 0.2 percent.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))