Further increases in jobless claims and rising producer prices, the EURUSD bounced from the first daily support 1.3537.

[RTFX-Trading]

Further increases in jobless claims and rising producer prices, the EURUSD bounced from the first daily support 1.3537.

The Labor Department announced today at 14:30 CET, that jobless claims increased during the week ending May 9th to 637'000 against 605'000 (revised) the previous week, which is well above 609'000 entries expected by economists.
   
Producer prices increased more than expected in April. The prices were up 0.30% on the month, and producer prices excluding food and energy were up 0.10%.
   
The EURUSD tested 1.3537 immediately after the announcement, this was also tested at midnight last night in Asia. It is therefore a key support level. The dollar is up 0.30% against its major rivals, I would not be surprised to see this trend reversed this afternoon.

Emman Xuereb
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