Eur/usd - page 190
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German Producer Price Inflation -0.2% vs. -0.1% forecast
Germany’s producer price index fell more-than-expected last month, official data showed on Thursday.
In a report, Destatis said that German Producer Price Inflation fell to a seasonally adjusted annual rate of -0.2%, from 0.0% in the preceding month.
Analysts had expected German Producer Price Inflation to fall -0.1% last month.
PICTURE OF THE DAY
Gyazo - 4e91b2251e2de67818cd60f7c4d611f6.png
EURUSD tried to rally during the course of yesterday, but ran out of steam at the 1.26 level and fell creating a shooting star. So a move below the 1.25 level is in fact a selling opportunity in this pair that most certainly is in a strong downtrend.
Euro zone manufacturing PMI falls to 50.4 in November
Manufacturing activity in the euro zone expanded at a slower rate than expected in November, underling concerns over the region’s growth outlook, preliminary data showed on Thursday.
In a report, market research group Markit said that its preliminary manufacturing purchasing managers’ index fell to a seasonally adjusted 50.4 this month, down from a final reading of 50.6 in October. Analysts had expected the index to ease up to 50.9 in November.
Meanwhile, the preliminary services purchasing managers’ declined to a seasonally adjusted 51.3 this month, down from 52.3 in October and below expectations for a reading of 52.3.
The seasonally adjusted Markit Flash Euro Zone Composite Output Index, which measures the combined output of both the manufacturing and service sectors slipped from 52.1 in October to 51.4 in November.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
Commenting on the report, Chris Williamson, Chief Economist at Markit said that, “The single currency area is struggling to eke out any growth, with the PMI indicating that GDP is likely to have risen by just 0.1-0.2% in the fourth quarter."
EUR/USD was trading at 1.2521 from around 1.2517 ahead of the release of the data, while EUR/GBP was at 0.7999 from 0.7998 earlier.
Meanwhile, European stock markets remained lower. The DJ Euro Stoxx 50 lost 0.9%, Germany's DAX slumped 0.6%, France’s CAC 40 shed 0.95%, while London’s FTSE 100 declined 0.4%.
source
thank you for the news update
Consolidating Before Next Leg Lower; Outlook & Forecast – Danske
EUR/USD is stuck in a well defined range. While this is a nice setup for some trades, many others would prefer to see a break out.
To what direction? The team at Danske sees a consolidation before the next leg lower and they explain:
Here is their view:
We expect EUR/USD to grind lower on monetary and growth divergence. We expect the ECB to reach for more tools in early 2015, paving the way for further EUR weakness.
Meanwhile, we expect the Fed to surprise markets and begin its tightening cycle in June 2015. We expect the USD to rally ahead of the Fed’s tightening cycle.
We expect EUR/USD to rebound on a six- to 12- month horizon as eurozone deflation risks disappear and the growth differential between the US and eurozone narrows.
read more
EURUSD consolidated during the course of yesterday session, testing the 1.25 level for support. Ultimately if we can break down below the 1.25 level, we would be all bear coming in the market. A break down below the 1.25 level should send this pair to the next support level at 1.2350.
Today i am trade with EURUSD
AndTrend Summary : BULLISH
Today i am trade with EURUSD AndTrend Summary : BULLISH
Bullish? For EURUSD?
Are you sure you did not make a typo?
well I went bullish from yesterday and I hit the stop with ECB speech