Eur/usd - page 121
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EURUSD fell during yesterday session, as the 1.37 level did offer resistance. This has been the case for this level for some time now, the truth is that the nonfarm payroll numbers coming out tomorrow will somewhat hold back any significant moves in this market place. A real move may not come until after that announcement comes out.
recovery keep losing momentum i guess that's it for today and waiting for tomorrow's big news
Eurozone Producer Price Decline Eases For Second Month As Expected
Producer prices in the euro area declined at a slower pace for the second straight month in May, in line with the expectations of economists, figures from Eurostat showed Wednesday.
Industrial producer prices in the domestic market dropped 1.0 percent year-on-year in May, slower than April's 1.2 percent decline, in line with economists' expectations. In March, prices fell 1.7 percent.
Producer prices in the energy sector declined 2.8 percent annually in May, following a 3.3 percent drop registered in April. Prices of intermediate goods fell by 1.2 percent, while capital goods and consumer goods rose by 0.3 percent and 0.8 percent, respectively in May.
On a monthly basis, producer prices dropped 0.1 percent in May, same as in the previous month. Economists had forecast prices to remain flat during the month. This was the fifth consecutive month of decline.
In the EU 28, producer prices dipped 0.9 percent annually in May, slower than April's 1.1 percent decline. Month-on-month, prices dropped 0.1 percent, same as in the previous month. It was the fifth successive month of decline in a row.
source
I can see a EURUSD consolidating in a wide range it’s very possible that the summer range could be between the 1.35 level on the bottom, and the 1.37 level on the top. Good for short-term trades.
you are right man you is looking down trend but we have to wait and see what mario will say about interest rate
Swedish Benchmark Interest Rate 0.25% vs. 0.50% forecast
Sweden’s benchmark interest rate fell more-than-expected last month, official data showed on Thursday.
In a report, Sveriges Riksbank said that Swedish Interest Rate Decision fell to a seasonally adjusted annual rate of 0.25%, from 0.75% in the preceding month.
Analysts had expected Swedish Interest Rate Decision to fall to 0.50% last month.
EURUSD fell during yesterday session, testing the 1.3650 handle, previous resistance change its role and become a new area of short-term support. We need to see a break above the 1.3705 level in order to be comfortable buying.
today we have big news ahead of us i hope we will see some movement
we have big news this week i guess it will be wise to wait before making any entry decision
they are going on already now with GBP PMI come out wit -57.7
ECB leaves all rates unchanged as expected
After the huge monetary blitz the ECB introduced in June (including the historic negative deposit rate), there was a consensus that the European Central Bank will refrain from action today.
EUR/USD traded around 1.3650 towards the publication continuing the steady trade seen earlier in the day.
However, the lack of monetary policy change does not mean a lack of action: at 12:30 GMT ECB president Mario Draghi meets the press. And at the same time, the US releases the Non-Farm Payrolls, in a rare timing on Thursday
ECB's Draghi Signals Low Rates For Extended Period
European Central Bank President Mario Draghi said on Thursday that euro area interest rates are set to remain low amid low inflation and as the liquidity measures announced last month are expected to boost lending to the real economy.
"The key ECB interest rates will remain at present levels for an extended period of time in view of the current outlook for inflation," Draghi said in Frankfurt, in the introductory remarks of his customary post-decision press conference.
"Moreover, the Governing Council is unanimous in its commitment to also using unconventional instruments within its mandate, should it become necessary to further address risks of too prolonged a period of low inflation."
Earlier today, the ECB held the refinancing rate at a record low 0.15 percent, the deposit rate at -0.10 percent and the marginal lending rate at 0.40 percent.
In June, the bank slashed the deposit rate from zero to negative, which in effect would charge Eurozone banks for parking excess funds at the ECB, a first for a leading central bank. The refi rate and the lending rate were also reduced last month.
"We are strongly determined to safeguard the firm anchoring of inflation expectations over the medium to long term," Draghi said.
Eurozone inflation held steady at 0.5 percent in June, remaining below the ECB's aim of keeping the figure 'below, but close to 2 percent' for the seventeenth consecutive month.
In June, the ECB staff forecast inflation for this year at 0.7 percent and 1.1 percent for next year.
The central bank also announced the details of the targeted longer-term refinancing operations, or TLTROs, announced in June. The EUR 400 billion TLTRO scheme will mature in September 2018.
Under the plan, financial institutions can borrow money from the ECB, totaling 7 percent of their total loans to households and the non-financial private sector.
Banks that borrow in the TLTROs and fail to achieve their benchmarks as of April 30, 2016 will be asked to pay back their borrowings in full in September 2016, the ECB said in a separate communique.
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