Date : 3rd September 2014
EURUSD GAINED IN THE EUROPEAN SESSION ON RUMORS ABOUT PERMANENT CEASEFIRE AGREEMENT BETWEEN PUTIN AND POROSHENKO.
EURUSD rose yesterday and closed at 1.3132. The manufacturing activity in the United States expanded in August at the fastest rate in more than 3 years. The ISM Manufacturing Purchasing Managers Index rose to a reading of 59.0 in August. The Construction Spending in the largest economy in the world also recorded a gain coming at a 1.8% in July against the market expectations of 0.9 percent rise.
Data about permanent ceasefire in Donbas, Ukraine after a discussion between the Ukrainian President Petro Poroshenko and the Russian President Vladimir Putin sent the EURUSD higher and the pair is currently in the mid 1.3150’s area. Although the information has not been confirmed yet as 100 percent accurate and investors should be fully aware of a potential new wave of volatility on the market.
Another data source indicated that the EU Commission might propose a new round of sanctions against Russia in the afternoon.
Support for the EURUSD is seen at 1.3109 and resistance is seen at 1.3191.