Euro Dollar: Spain reassures, but what about the U.S. employment? Friday, July 2, 2010 at 11:34

The euro has stabilized this morning around a threshold of 1.25, after surging yesterday in the wake of a successful bond issue by Spain, a country under strict surveillance on the issue of public debt.
If such waiver constitutes a positive response to the recent warning from Moody's, trading rooms, however, remain extremely cautious approach to the official statistics on the health of U.S. employment.
On Wednesday, private practice in human resources ADP offered us an estimate of the number of jobs created in June in the United States to 13,000, a level well below the consensus.

Around 11:20, the spot EURUSD is approximately 1.2500. The single currency has not seen this level against the greenback since May 24
From a graphical perspective, the surge in cross registered yesterday was followed this morning by a legitimate phase of consolidation around a point at 1.2500. This episode is not finished, we prefer not to attempt to trade immediately on the currency pair euro / do

Graphique en données horaires :


Daily data chart: