EURUSD trading higher at the start of the week. US Non-Manufacturing ISM report on focus.

EURUSD rose on Friday and closed at 1.3280. The Non-Farm Payrolls in the United States increased with 162K against the market expectation of a 185K rise. That led to speculation that the United States Federal Reserve will be more cautious in tapering its monthly bond-buying program. The Factory orders in the US rose 1.5 percent month over month in June. At the end of the trading week the President of the St. Louis Federal Reserve James Bullard stated that the US central bank should exercise caution in basing its decisions on forecasts and that policymakers should wait to see more data before deciding to taper bond purchases. Today we have the ISM Non-Manufacturing PMI report due from the United States. Support for the EURUSD is seen at 1.3248 and resistance is seen at 1.3248 and resistance is seen at 1.3339. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose on Friday and closed at 1.5284. The Construction Purchasing Managers Index in the United Kingdom rose more than the market expectation coming at a reading 57.0 in July. In a release today the Services Purchasing Managers Index also came out better than the market expectation at a reading of 60.0 in July. Support for the GBPUSD is seen at 1.5229 and resistance is seen at 1.5369. The HotForex Traders Board shows that 54 percent of the traders are short on the GBPUSD.

EURUSD trading higher at the start of the week. US Non-Manufacturing ISM report on focus.