Eur/usd - page 323
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A narrow range for the start of the week.
The euro recorded a minimal increase against the dollar on Friday. EUR / USD started the daily session at 1.1122 and ended with a profit of 21 pips, which could not compensate weekly losses of the single currency at a rate of 0.3%. Trading on Friday was held within 1.1091 and 1.1179. The graphics developed under low moving averages, while the relative strength index remained at negative territory, suggesting continuing dominance of bears and a test of 1.1055.
July 2015 German trade balance 25.0bn vs 22.3bn exp
Details of the July 2015 German trade balance data report 8 September 2015
Also out is Q2 labour cost data
Exports and imports posted the highest on record in July and mark a decent month for German growth. That gets Q3 off on the right foot
The numbers have been enough to give EURUSD a lift to 1.1216
The euro recorded a minimal increase against the dollar on Monday. The pair started the daily session at 1.1162 and ended with a gain of only 6 pips. Trading on Friday was held within 1.1121 and 1.1177. The index of relative strength remains into neutral territory. Test of resistance at 1.1180 is possible while the Bulls dominate.
Q2 2015 Eurozone GDP revision 0.4% vs 0.3% exp q/q
Highlights of the Q2 2015 Eurozone GDP revision data report 8 September 2015
Wow. Upwardly revised growth. Let's see what the details say
Despite the beat GDP is lower than Q1. Government spending is down, infrastructure is down, household spend is down, but that's all put to one side with the increase in trade activity. Europe is exporting more than it's importing and that's good news
source
Yesterday the EURUSD initially fell but found enough buying pressure to turn back around and close in the green near the high of the day. The currency made a 2nd straight narrow range day suggesting that a break above or below of this inside day will be explosive. Levels to watch today: 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
German Workers Fill Their Wallets in Q2
Labor costs per hour worked in Germany rose 3.1% in the second quarter of 2015 on a calendar adjusted basis, compared with the second quarter of 2014, the Federal Statistical Office (Destatis) reported on Tuesday. They were 0.9% higher on seasonally and calendar adjusted terms.
Labor costs represent gross earnings and non-wage costs.
In calendar adjusted terms, the costs of gross earnings in the second quarter of 2015 rose 3.4% from the second quarter of 2014, while non-wage costs were up 2.0%, Destatis said.
In the European Union as a whole, labor cost increases averaged 2.5% in that period, with the highest growth rates recorded in Latvia (+7.3%), Romania (+7.1%) and Bulgaria (+6.9%).
Meanwhile, in Cyprus labor costs declined 1.8%. In France, the increase in labor costs (+1.6%) was lower than in Germany.
Low inflation
At the same time, consumer prices in the euro area's number one economy saw their growth rate unchanged in August, the preliminary reading from Germany suggested at the end of August.
Consumer prices remained flat month-on-month in the eighth month of the year. Back in July, with the gauge adding 0.2% on the same basis. In annual terms, the cost of living in the euro area's number one economy rose 0.2% in August, the preliminary print showed. In July, the gauge added 0.2%.
Final CPI print is expected on Friday.
source
EUR/USD is still around support line 1.11560 which is a strong point for the price breaking this point will push the price further down. But still EUR/USD is moving in a narrow range.
Labor costs per hour worked in Germany rose 3.1% in the second quarter of 2015 on a calendar adjusted basis, compared with the second quarter of 2014, the Federal Statistical Office (Destatis) reported on Tuesday. They were 0.9% higher on seasonally and calendar adjusted terms.
Labor costs represent gross earnings and non-wage costs.
In calendar adjusted terms, the costs of gross earnings in the second quarter of 2015 rose 3.4% from the second quarter of 2014, while non-wage costs were up 2.0%, Destatis said.
In the European Union as a whole, labor cost increases averaged 2.5% in that period, with the highest growth rates recorded in Latvia (+7.3%), Romania (+7.1%) and Bulgaria (+6.9%).
Meanwhile, in Cyprus labor costs declined 1.8%. In France, the increase in labor costs (+1.6%) was lower than in Germany.
Low inflation
At the same time, consumer prices in the euro area's number one economy saw their growth rate unchanged in August, the preliminary reading from Germany suggested at the end of August.
Consumer prices remained flat month-on-month in the eighth month of the year. Back in July, with the gauge adding 0.2% on the same basis. In annual terms, the cost of living in the euro area's number one economy rose 0.2% in August, the preliminary print showed. In July, the gauge added 0.2%.
Final CPI print is expected on Friday.
sourceThat will cause some bulls to jump in
The single currency recorded an increase against the dollar on Tuesday after the volatile session during the day. The pair started the session at 1.1168, and in the early hours of the day recorded the highest level at 1.1228. Trading ended at a price of 1.1201 and probably the upward trend will continue due to the breakthrough at 1.1180. The index of relative strength also supports the bulls in the short term.