Eur/usd - page 223
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EUR/USD weekly outlook: February 9 - 13
The euro fell sharply against the dollar on Friday after strong U.S. employment report reinforced expectations for a mid-year rate hike by the Federal Reserve, underlining the diverging economic recoveries in the U.S. and euro zone.
The Labor Department reported that the U.S. economy added 257,000 jobs in January, far more than the 234,000 forecast by economists. December’s figure was revised to 329,000 from a previously reported 252,000.
While the unemployment rate ticked up to 5.7% last month from December’s 5.6% hourly earnings and the participation rate both saw increases in January.
The upbeat jobs was seen as strong enough to indicated that the Fed will remain on track to start raising rates from near zero levels as early as June.
EUR/USD was at 1.1316 in late trade, down 1.14% for the day.
The euro remained under pressure as concerns over Greek debt negotiations continued to weigh on market sentiment.
Ratings agency Standard and Poor’s downgraded Greece late Friday and warned that time is running out for Athens to reach an agreement on a new financing program with creditors.
S&P downgraded Greece to B- from B, one notch above default, and kept the outlook at "negative", indicating that further ratings cuts are possible.
The announcement came after the ECB said it will no longer accept Greek bonds as collateral for lending, shifting the burden on to Greece’s central bank provide additional liquidity for its lenders.
In the week ahead, the euro zone is to release what will be closely watched data on fourth quarter economic growth on Friday. Investors will also be focusing Friday’s U.S. consumer sentiment data.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
read more
EURUSD fell during the course of Friday session, after a strong U.S employment report reinforced expectations for a mid-year rate hike by the Federal Reserve. So a break below 1.13 handle may pull the pair down to the 1.1236 or even to the year low at 1.1097.Rallies should continue to offer selling opportunities on short-term charts.
Euro gives up gains as Greece fears weigh
The euro gave up early gains against the dollar on Monday as concerns over the Greek debt crisis escalated after the country’s new prime minister reiterated that Athens would not stick to the terms of its old bailout agreement.
EUR/USD was last at 1.1314, off session highs of 1.1359.
Investors remained wary after Greek Prime Minister Alexis Tsipras said Sunday that he would deliver on pre-election pledges to roll back austerity measures and reject an international bailout extension.
Instead, he said he will seek a new “bridge agreement” to cover Greece’s funding needs until June.
Greece’s main stock exchange fell sharply on Monday, while bond yields surged higher amid worries that that time is running out for Athens to reach an agreement on a new financing program with creditors.
The euro had pushed higher against the dollar earlier in the day as the greenback eased after Friday’s rally on the back of a stronger-then-expected U.S. jobs report, which reinforced expectations for a mid-year rate hike by the Federal Reserve.
The single currency received an additional boost after data showing German exports rose to a record high last year.
Germany exported a record €1.13 trillion worth of goods and services in 2014, an increase of 3.7% from a year earlier. Imports rose more slowly, increasing 2% to €915.6 billion, leading to a record high trade surplus.
The upbeat German trade data was offset by disappointing trade data from China.
Official figures on Sunday showed that Chinese exports fell 3.3% in January on a year-over-year basis, while imports dropped 19.9%. The data indicated that both global and domestic demand is weakening.
In other trade, the euro was lower against the yen, with EUR/JPY down 0.48% to 134.15, but was slightly higher against the pound, with EUR/GBP at 0.7434.
read more
support level turned to be a resistance now price keep bouncing undecided around 1.1380
France Industrial Production Returns to Growth in Dec
Industrial output in France recovered and registered expansion in the final month of 2014, the National Institute of Statistics and Economic Studies (INSEE) reported on Tuesday.
Factory production in the second largest economy in the euro area advanced 1.5% in December when measured on a monthly basis, after a revised 0.2% decline in November. Analysts had expected a 0.3% increase.
Measured over the year, industrial output lost 0.1% in the reported period, compared to analysts' forecasts of a revised 1.4% drop. Markets had bet on 1.3% decline.
Meanwhile, manufacturing production also recovered and advanced 1.2%, after contracting a revised 0.5% a month earlier, while analysts had expected a 0.4% gain.
Manufacturing PMI, ECB stimulus
Meanwhile, manufacturing activity in France showed some signs of improvement in January, a final survey by Markit Economics showed on Monday.
The manufacturing PMI in France came in at 49.2 in the first month of the year, markedly up from the 47.5 seen in December.
French President Francois Hollande has pledged to accelerate efforts to revive the country's economy, taking advantage of the massive monetary stimulus unveiled by the European Central Bank.
Hollande said the French government is trying to reduce burdens on business and make the labor market more flexible, to "bring our economy into line with reality."
source
EURUSD initially tried to fall during the course of yesterday session, but found enough ground at the 1.13 level to bounce and create a doji pattern. The pair is trading below the 10-day moving average; this suggests that the price could test a daily support at 1.1236 or even go for the low of the year at 1.1097.
the trading range is very narrow with almost no movement at all.
EURUSD fell initially during the course of yesterday session, but found enough support near previous day low at 1.1270 to turn things back around and form another doji pattern. The pair continues to consolidate below the 10-day moving average with a thigh range. A break above the 10-day moving average could push the pair a daily resistance at 1.1555 on the downside a break below previous day low could pull the EURUSD to year lows at 1.1097.
price is testing the support line 1.1260 and fail to break under from the start of the week
Futures, EUR Surge On Report Greek Agreement "Reached In Principle"
And so it begins... 1am local time and we get 'unidentified sources' stating that:
Stocks futures and EURUSD are surging on it but we suspect - given the timing - that there is no detail yet and this is nothing but a blanket statement of effort for compromise.