© Reuters. The solid news out of the US, there is also EUR/USD
After the PMI services US published 15: 45, and that was slightly disappointing, the statistics for 16h were about they turned out to be considerably better than expected, pushing the EUR/USD pair on new lows.
The ISM service for the month of February is shown to 59.7 points, compared to 57.3 points in advance and 56.7 points previously.
New home sales have posted a surprise increase to +3.7%, while economists had been pencilling in a dip of -8.7%.
In this context, the Dollar has immediately bounces back, as seen on the Dollar Index, resulting in the pair EUR/USD in a new acceleration to the downside with a low of 1.1303 for the moment.
The next support to break is the psychological threshold of 1.13, before the hollow of the 19 February at 1.1275, and then 1.1250, and the low annual 2019 to 1.1233.
However, most likely remain as traders exercise caution in not engaging too much and not in one direction or another before the major events of the end of the week, the ECB meeting of Thursday, and the report to the NFP on Friday, although a test of the psychological threshold of 1.13 is not excluded.
Tomorrow, the ADP report will already get an idea of the state of the job market in US in the month of February, and to refine the market’s expectations for the report to the NFP on Friday, which could also stimulate the short-term volatility on the EUR/USD pair if the figures deviate from the consensus.