Eur/usd - page 186
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Germany’s Wholesale Price Index -0.6% vs. 0.2% forecast
Germany’s wholesale price index fell unexpectedly last month, official data showed on Wednesday.
In a report, Destatis said that Germany’s Wholesale Price Index fell to -0.6%, from 0.1% in the preceding month.
Analysts had expected Germany’s Wholesale Price Index to rise 0.2% last month.
Bearish momentum drops, EURUSD moved in a tight range under 1.2500 yesterday, creating a sideways consolidation pattern. I still remain bearish on the Euro and bullish on the USD, though oversold conditions and a relatively light news week up until Friday could keep us from seeing another major move downward (and possibly even mild upward correction). A sustained break below 1.2400 is needed to increase bearish momentum once again.
Hello Everyone,
EUR/USD
Edged higher on the day hitting resistance at the 1.25 handle. Pair looking to bounce above this key resistance level. A close above extends to the 1.2540-70 area. Consolidation and sideways action expected with upswing likely to be short lived.
Eurozone September Industrial Production Unexpectedly Grows
Eurozone industrial production grew in September from a year ago, defying expectations for a second consecutive decline, preliminary figures from Eurostat showed Wednesday.
Industrial production grew 0.6 percent year-on-year following a 0.5 percent slump in August, which was revised from 1.9 percent decline. Economists had forecast a 0.2 percent drop for September.
Capital goods and non-durable goods output climbed 2 percent each. Intermediate goods production remained unchanged, while energy output fell 2.5 percent. Durable goods production also declined 3.3 percent.
Production rose 0.6 percent from August, when it fell 1.4 percent, which was revised from a 1.8 percent decline. Economists had expected 0.7 percent growth.
In EU 28, industrial production rose 0.6 percent annually in September, rebounding from a 0.2 percent decline in the previous month, revised from a 0.8 percent drop.
On a monthly basis, industrial production increased 0.6 percent, recovering from a 1.2 percent fall in August, revised from a 1.4 percent slump.
source
Price seems to rebound every time it touches 1.2500 Now a strong resistance is formed around 1.2500 that will makes it even harder for the price to break over. short sell under the resistance is the best option for now.
EUR / USD fell yesterday after touching the moving average of 50 periods.
The RSI found resistance near its line of 50 and is pointing down, with the MACD already in negative zone.
R3 - 1.25615
R2 - 1.25294
R1 - 1.24828
Daily Std. Pivot - 1.24507
S1 - 1.24041
S2 - 1.23720
S3 - 1.23254
Hello Friends,
EURUSD Signals for Thu, 13 Nov 2014
Buy 3rd Target (Overbought Price) at 1.2569
Buy 2nd Target (Reversal Price) at 1.2531
Buy 1st Target at 1.2493
Buy Area at 1.2469
WSS Pivot at 1.2444
Sell Area at 1.2419
Sell 1st Target at 1.2394
Sell 2nd Target (Reversal Price) at 1.2356
Sell 3rd Target (Oversold Price) at 1.2319
Trend Summary : BEARISH
German CPI -0.3% vs. -0.3% forecast
German consumer price inflation fell last month, official data showed on Thursday.
In a report, Federal Statistical Office Germany said that German CPI fell to a seasonally adjusted -0.3%, from -0.3% in the preceding month.
Analysts had expected German CPI to fall -0.3% last month.
EURUSD pair initially tried to rally during the course of yesterday session, but found enough resistance of the 1.25 level to turn things around and close near the low of the day creating an inside day. It appears that the pair is ready to continue moving lower ultimately reaching the 1.2050 level which is a “round-trip” for the entire uptrend, although it will be rather choppy all the way down there.
ECB: Forecasters Cut Eurozone Inflation, Growth Projections
Professional forecasters slashed the inflation and growth projections for Eurozone for this year as well as for the next two years, signaling that the European Central Bank may plunge into more stimulus action in the coming months.
Results of the latest Survey of Professional Forecasters for the fourth quarter, published in the ECB's monthly bulletin released Thursday, showed that the inflation outlook for next year was slashed to 1 percent from 1.2 percent seen earlier.
The projection for this year was lowered to 0.5 percent from 0.7 percent and the outlook for 2016 was cut to 1.4 percent from 1.5 percent.
"These downward revisions were broad-based, with around 85 percent of respondents revising down their forecasts for 2014 and 2015, and 60 percent doing so for 2016," the ECB said.
"The main factors cited as being behind these downward revisions were lower oil prices and weaker than expected economic activity. On the other hand, the depreciation of the euro was cited as a counterbalancing factor in these revisions."
The average inflation projection for the longer-term expectations, which is until 2019, was also reduced to 1.80 percent from 1.86 percent.
Surveyed experts also reduced the growth forecast for next year to 1.2 percent from 1.5 percent. The outlook for this year was cut to 0.8 percent from 1 percent. The projection for 2016 was downgraded to 1.5 percent from 1.7 percent.
Nearly 90 percent of the respondents cut their growth forecasts for this year and next, while two-thirds lowered their projection for 2016.
"The downward revisions for 2014 were driven by disappointing figures for GDP growth in the second quarter, as well as persisting low business confidence in some euro area countries, and a more pessimistic outlook for key export markets," the report said.
Respondents regarded the recent fall in euro area economic activity as a temporary phenomenon, the survey said. However, their forecasts were partly based on recent geopolitical tensions translating into lower confidence and a wait-and-see attitude on the part of investors for the short-term horizon, it added.
Eurozone inflation rose slightly in October, but remained consistently below 1 percent, signifying the risk of deflation in the currency bloc. Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, slowed to 0.7 percent from 0.8 percent a month ago.
Though policymakers maintain that deflation in the euro area is highly unlikely, the threat cannot be ruled out, according to the recent rhetoric.
Yesterday, ECB President Mario Draghi reiterated the Governing Council's commitment to take further unconventional measures should inflation expectations worsen or the existing measures prove to be insufficient.
Earlier this month, the European Commission lowered its 2015 growth forecast for the Eurozone to 1.1 percent from the 1.7 percent predicted in May. The inflation projection for 2015 was also reduced to 0.8 percent from 1.2 percent. The growth and inflation forecasts for this year were also cut.
source