British manufacturing activity hit its best since 2014 last month, supported by a solid global economic recovery and the weak Pound.
The bullions recent moves were easy to forecast, as a strong support cluster keeps the rate from falling.
On Wednesday morning the EUR/USD pair remained in a short term ascending channel, which kept the rate positioned between two notable levels of significance.
The bullion continues on its path lower in the strong and many times confirmed descending channel pattern.
On Tuesday morning the Euro continued the rebound against the US Dollar, which began during the last hours of Monday's trading.
The Purchasing Managers' Index for the US manufacturing sector grew less than analysts estimated.
The Purchasing Managers' Index for the US manufacturing sector grew less than analysts estimated.
The bullion proved once again to be unable to confirm the gains posted on Friday's trading session and erased the motion on Monday, continuing the ranging pattern it has been trading inside of for the last four sessions.
EUR/USD opened in the red zone as several markets were closed on Monday due to banking holidays.
The US economy expanded at its weakest pace since the Q1 of 2014 in the three-month period to March, as consumer spending barely rose; however, a rise in business investment and improving pay growth held out hopes that the economy would regain momentum in the upcoming quarters.
The British economy expanded at a slower than expected pace in the three-month period to March, as consumers began feeling the impact of rising inflation amid the sharp fall in the value of the Pound.
Orders for US-manufactured goods rose less than experts estimated in March, official figures revealed on Thursday.
Orders for US-manufactured goods rose less than experts estimated in March, official figures revealed on Thursday.
The yellow metal seems not able to pass the weekly S2, which is located at the 1,263.56 level. The reasons for that are various.
During the early hours of Friday's trading session the EUR/USD currency exchange rate remained in limbo around the levels of significance near the 1.0880 mark.
Last week, US crude oil inventories dropped more than expected, while gasoline and distillate stocks rose markedly, owing to increased production at refineries.
The Conference Board Consumer Confidence Index dropped more than experts estimated.
On Thursday morning the bullion remained above the weekly S2, as it had been forced down by a significant resistance.
During the early hours of Thursday's trading session the EUR/USD remained almost unchanged, compared to the previous trading session. The reason for that is the fact that today is the day of the ECB Minimum Bid Rate announcement.
The Conference Board Consumer Confidence Index dropped more than experts estimated.
The Conference Board Consumer Confidence Index dropped more than experts estimated.
The yellow metal has retreated down to the weekly S2 at the 1,263.56 level. Meanwhile, the future direction of the bullion is complicated.
The common European currency seems to have finally met a worthy resistance level against the US Dollar.
US manufacturing activity in the Mid-Atlantic region slowed markedly in April, official figures revealed on Thursday.