EUR/USD (a 4-hour chart)
European currency continued to rise against the U.S. dollar on Friday. The pair got a good support from the fundamental data from Europe. All trades completed in favor of the euro which gained 63 points against dollar.
According to the company Markit in January PMI PMI 2013 rose to 47.9 points versus 46.1 points in December. It was reported previously that the index was 47.5 in January.
A strong movement in the market was also caused by the latest news from the US labor market. According to the U.S. Department of Labor, the number of jobs outside agriculture sector increased by 157,000 in January.
However, the unemployment rate rose to 7.9%.
Economists had forecast – a growth of jobs outside agriculture in January to 166,000 and the unemployment rate should stay at around 7.8%.
The current conditions index rose to 85.0 vs. 84.8, while the expectations index rose to 66.6 from 62.7.
A producer price index for the euro area in December was published today at 14:00 MSK: the forecast no change: -0.2%.
At 19:00 MSK out data on factory orders for December, forecast 2.0% vs. 0.0% in November.
Technically, after fixing the prices under the trend line support at 1.3604 H4 open targets defined trend lines: 1.3557 and 1.3525.