EUR/USD up around 1.3270 on China EUR/USD eyes on 1.3300 China - TopicsExpress

EUR/USD up around 1.3270 on China EUR/USD eyes on 1.3300 China continues to be the main driver for the risk appetite trends in the first half of the week, after Industrial Production, Retail Sales and Urban Investment figures all surpassed expectations during August, giving extra oxygen to the risk-associated assets in general. In the opinion of Westpac Global Strategy Group, “The 55, 100 and 200 day moving averages have converged in the 1.3140-90 range, with the runup to 1.34 an increasingly distant memory. ECB president Draghi’s mood last week was gloomier than expected, adding to our bias to sell into the 1.32-1.33 region. However, US data has been too soft to inspire much fresh USD buying, leaving 1.3100 intact for now”. Read more forex news here: lqdmarkets/ForexNews/Market/FX/Item/8218

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