Thursday, January 17, 2013

Forex - EUR/USD eases from session highs after U.S. data - The euro eased back from session highs against the U.S. dollar on Thursday, after data showed that U.S. jobless claims hit a five-year low last week, while U.S. housing starts rose at the fastest pace in four years in December.

EUR/USD pulled away from 1.3377, the pair’s highest since Tuesday, to hit 1.3353 during U.S. morning trade, still up 0.49% for the day.

The pair was likely to find support at 1.3269, the session low and resistance at 1.3403, the high of January 14 and an 11-month high.

The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 37,000 to a seasonally adjusted five-year low of 335,000, compared to expectations for a decline of 7,000 to 365,000.

Meanwhile, the Commerce Department said U.S. housing starts jumped by 12.1% in December to an annual unit rate of 0.954 million, the highest level since 2008, compared to expectations for a 3.3% increase to 0.890 million.

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