The market has been looking at the US economic glass as half-empty of late so today’s modestly better-than-expected data is helping spark a minor rally in risk assets.
EUR/USD has ticked up to the low 1.2280s after the data while equities have bounced 2-3 points in the S&P futures.
1.2300 is resistance on rebounds near-term. A break suggests a rebound to 1.2340 unfolds.
