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EUR/USD indifferent on US data

FXStreet (Edinburgh) - The common currency kept the composure vs. the dollar following today’s US releases, with EUR/USD treading water around the 1.1320 area.

EUR/USD only looks to the FOMC

The pair keeps the trade in the low-1.1300s after the positive data from the US calendar today, where Initial Claims have dropped to 264K during the week ended on September 11th and Building Permits increased above expectations to 1.170 million during August. On the not so bright side, Housing Starts missed estimates coming in at 1.126 million during the same period vs. 1.170 million forecasted and July’s 1.161 million.

Next on tap will be the manufacturing survey tracked by the Philly Fed during the last month (6.0 exp.) followed by the FOMC meeting, Chairwoman Yellen’s press conference and FOMC Economic Projections.

EUR/USD key levels

The pair is up 0.32% at 1.1326 facing the next hurdle at 1.1339 (high Sep.17) ahead of 1.1374 (high Sep.14) and then 1.1523 (high Aug.26). On the other hand, a breakdown of 1.1285 (low Sep.17) would target 1.1214 (low Sep.16) en route to 1.1171 (low Sep.10).

US initial jobless claims fall to 2-month low

US initial jobless claims fell by 11,000 to 264,000 in the week ended September 12, hitting its lowest level in 2 months.
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US housing starts fall 3.0% in August

US housing starts fell 3% from a month earlier to a seasonally adjusted annual rate of 1.126 million in August, below the 1.170 million expected by analysts.
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