Eur/usd - page 155
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GBP/USD is going to get a historical low if the referendum comes in the favor of Scotland
French Industrial Production 0.2% vs. -0.4% forecast
French industrial output rose unexpectedly last month, official data showed on Wednesday.
In a report, INSEE said that French Industrial Production rose to 0.2%, from 1.2% in the preceding month whose figure was revised down from 1.3%.
Analysts had expected French Industrial Production to fall -0.4% last month.
EURUSD made a fresh low during yesterday session, but the 1.2850 level has offered enough support to turn things back around and pushing prices up. With that being the case, the market looks like it could make a correction to the upside, but the 1.30 level will bring in significant resistance. The resistance may offer short-term selling opportunities in this currency pair that is most obviously bearish.
Euro holds above 14 month lows against dollar
The euro was holding above the 1.29 level against the dollar on Wednesday, remaining supported above 14-month lows as investors took a breather from selling the single currency.
EUR/USD was trading at 1.2930, off Tuesday’s lows of 1.2858, the weakest level since July 2013.
The pair was likely to find support at around the 1.2858 level and resistance at around 1.2985.
Demand for the dollar continued to be underpinned by heightened expectations for an early hike in U.S. interest rates after recent data indicated that the economic recovery is gaining momentum.
A study by the San Francisco Fed published on Monday indicated that central bank officials see rates rising earlier than markets expect.
Investors have shrugged off last week’s disappointing U.S. nonfarm payrolls report as they began to turn their attention to the outcome of next week’s Federal Reserve policy meeting.
The Fed is expected to cut its asset purchase program by another $10 billion next Wednesday, which would keep it on track for winding up the program in October, and to start raising interest rates sometime in mid-2015.
In contrast, the European Central Bank unexpectedly cut rates to record lows across the euro zone last week and unveiled new easing measures in a bid to shore up the faltering recovery and boost inflation.
The bank said the move was prompted after long term inflation expectations deteriorated in August.
Elsewhere, USD/JPY rose to fresh six year highs of 106.76 and was last up 0.53% to 106.74.
The euro was also higher against the softer yen, with EUR/JPY rising 0.47% to 138.03.
Barclays Cuts Euro Forecast to Most Bearish on Economy Slowdown
Barclays Plc lowered its one-year euro forecast to the most bearish of Wall Street banks as the currency union’s economy deteriorates and as increasingly aggressive monetary policy signals further depreciation.
Europe’s common currency will weaken to $1.27 in a month, to $1.22 in three months and to $1.10 in a year, strategists led by Jose Wynne said in a report today. That compares with forecasts of $1.30 by the end of 2014 and $1.27 in a year, according to the median estimate of economists and strategists surveyed by Bloomberg. Morgan Stanley projects the euro weakening to $1.20 by the end of the third quarter of 2015, according to data compiled by Bloomberg.
“We now see a more protracted and significant slide in the EUR and are revising our forecasts substantially lower over a 12-month horizon,” Barclays said. “We expect this to be a multi-year trend, returning EUR/USD to lows not reached in more than a decade.”
The euro dropped 0.3 percent to $1.2901 at 9:18 a.m. in New York, after declining to $1.2860 yesterday, the weakest since July 2013.
The European Central Bank unexpectedly cut interest rates to record lows Sept. 4 and ECB President Mario Draghi said it will buy asset-backed securities as it tries to spur a slumping economy.
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The dollar has traded stableagainst NOK, EUR,SEK and CHFand high againstthe AUD, JPY, GBP, NZD and CAD, in that order.
The pound continued its downward trend with uncertainty regarding the outcome of the referendumin Scotland, which continues to dominateinvestor sentiment. The leaders of the three main political parties in Britain have announced a last minute trip to Scotland to support the campaign against independence.
thank you for the news
German CPI 0.0% vs. 0.0% forecast
German consumer price inflation remained unchanged last month, official data showed on Thursday.
In a report, Federal Statistical Office Germany said that German CPI remained unchanged at a seasonally adjusted 0.0%, from 0.0% in the preceding month.
Analysts had expected German CPI to remain unchanged at 0.0% last month.
EURUSD had a fairly peaceful session consolidating around the vicinity of 1.2880 to 1.2960. The pair is seems to be appealed to the 1.29 level, ultimately this market will break out to the downside and if we do, the market should aim for the 1.28 level. The 1.30 level shows a significant resistance and as a result look for short-term candles that show signs of selling.
German Inflation Stuck At Four-And-A-Half Year Low
Inflation in Germany, Europe's biggest economy, remained stuck at its lowest level in four and a half years in August, according to final data on Thursday.
Confirming a preliminary flash estimate released at the end of last month, the federal statistics office Destatis calculated that German inflation this month stood at just 0.8 percent year-on-year, unchanged from July.
The last time inflation in Germany was lower was in February 2010.
Inflation has been unusually low across the 18-nation eurozone, fuelling concern the region could slip into deflation -- a sustained and widespread drop in prices that hampers economic activity and threatens job losses.
While falling prices may sound good for consumers, deflation can trigger a vicious spiral where businesses and households delay purchases, throttling demand and causing companies to lay off workers.
Such concerns persuaded the European Central Bank to cut interest rates last week and unveil other measures to ease monetary conditions in the single currency area.
Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the ECB -- inflation in Germany also stood at 0.8 percent in August, far below the bank's annual inflation target of just below 2.0 percent.
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