BOSSA.CZ (BOSSA.CZ)
Currencies  |  March 05, 2013 15:35:00

Afternoon Analysis EUR / USD and U.S. service sector


iPoint.cz I nstitut Inventory Management (ISM) released in the U.S. on Tuesday Purchasing Managers Index (PMI) in the service sector. Index in February compared to the previous measurement mend his ways, reaching to 56.0 points from 55.2 the previous point. Economists had expected a slight drop to 55.0 points. Services helped mainly an increase in new orders and increased demand for exports. Today's result is the best since February 2012 and still remains in the expansion of the service sector (values ??above 50). New orders index jumped to 58.2 points from 54.4 points and export orders have reached maximum since May 2007, reaching 60.5 points.

Eurodollarstoday so far did not show any significant movement. Price is around 1.3030 resistance. Oscillators located on neutral terms. However, today's positive outcome of the service sector could help the EUR / USD to weaken further. Nothing yet to suggest that there should be a change in trend, so the outlook remains bearish.

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