Eur/usd - page 484
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The euro marked slight decrease against the dollar on Tuesday. The session opened at 1.1234 with neutral trend in early trading hours. Bears prevailed in the late afternoon and the support at 1.1197 was tested after marking daily low at 1.1203. If expectations for further euro’s weakness justify, the key level will be overcome. Support is located at 1.1197 and 1.1156 and resistance is seen at 1.1284 and 1.1327.
July 2016 Eurozone industrial production -1.1% vs -0.9% exp m/m
Details of the July 2016 Eurozone industrial production data report 14 September 2016
0.6%. Revised to 0.8% -0.5% vs -0.7% exp y/y. Prior 0.4%. Revised to 0.7% EU28 states -1.0% vs 0.7% prior -0.1% vs 0.8% prior y/y
Capital goods posted the biggest loss in July, falling 1.7% vs 1.6% prior. Durables drop 0.7% vs 1.2% in June.The euro gained ground against the dollar on Wednesday. The pair tested the resistance at 1.1284, but couldn’t breakthrough. Short-term expectations remain in favor of the single currency and if they come true, the key level will be broken. Support is located at 1.1197 and 1.1156. Resistance is seen at 1.1284 and 1.1327.
Yesterday the EURUSD rose with a wide range but closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), previous swing high at 1.1327 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1222 (support), and a daily support at 1.1097.
Eurozone CPI Grew 0.1% in August, 0.2% YoY
According to Eurostat, the Consumer Price Index for the month of August increased 0.1%, up from negative 0.6% in July. This was in line with analyst expectations, according to a Thomson Reuters survey.
On an annualized basis CPI was 0.2%, unchanged from July. Twelves members of the EU showed negative annual growth rates of inflation, with Croatia leading the way lower. Belgium experienced the highest rate of year-over-year inflation at 2%.
Stripping out volatile food and energy prices, ‘core’ CPI grew 0.3%; in July the reading was -0.7%. On an annualized basis core inflation via CPI grew 0.8%, in line with estimates and prior month.
Eurostat said the largest contributor to upward pressure came from restaurants and cafes and fruits and vegetables, while energy sectors had the strong negative impacts.
Low to negative inflation continues to be an uphill battle for the European Central Bank. So far, extremely easy and unorthodox monetary policy measures have had very limited impacts on inflation and boosting the EU economy. The central bank is currently adopting negative rates and quantitative easing; with expectation they will continue to do so until desired results are seen. Many are growing impatient and losing confidence the ECB will be able to accomplish its goals.
The single currency marked quite dynamic session against the dollar on Thursday. Even though the closing price was cosiderable near the opening price, respectively 1.1243 and 1.1248. The trend was neutral for most of the time, but around noon the bulls prevailed and currencies rallied up. The pair again tested the resistance at 1.1284, after marking the intraday high at 1.1284. Subsequently the euro lost the accumulated gains.
Yesterday the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), previous swing high at 1.1327 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1231 (support), and a daily support at 1.1097.