Eur/usd - page 337
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Now let see for how long will 1.12800 hold
Germany industrial production Aug mm SA -1.2 % vs +0.2% exp
Latest German ind prod data now out
Weaker headlines partly compensated by better revisions leaves EURUSD on session lows of 1.1257
Fastest rate of ind prod decline since Aug 2014
The German ministry says:
"The unfavourable constellation of the summer holidays contributed significantly to the fall in output"
The euro began the second day of the week with a significant increase against the US dollar. Bulls prevailed and the single currency rebounded from support at 1.1180. The euro added 84 pips at a closing price of 1.1269 points. If the price continues to rise, the pair will reach the first resistance at 1.1290.
Yesterday the EURUSD rally and closed in the green near the high of the day with a narrow range, creating a 2nd inside day.
The currency closed back above the 10 and 50-day moving averages as it continues in a range bound move around the two moving averages since the end of September.
The key levels to watch are 1.1460 (Resistance), 1.1237 (support) and 1.1097 (support).
for two weeks now EUR/USD is swinging between the support level 1.1150 and resistance level 1.1300.
German Trade Surplus Shrinks in Aug
The trade surplus in the euro area's number one economy weakened in the eighth month of 2015, according to the latest report from the nation's Federal Statistical Office (Destatis) released on Thursday.
Germany's foreign trade, one of the components of the country's current account, generated a non-seasonally adjusted surplus of €15.3 billion in the reported period, up from the €25.0 billion registered in the previous month.
Analysts had predicted a surplus of €19.0 billion.
After calendar and seasonal adjustment, exports declined 5.2% following a revised 2.2% growth in July. Economists had anticipated a 0.9% decrease in exports.
Imports to Germany fell 3.1% compared with a revised 2.3% a month ago and expectations of a 0.6% fall.
Furthermore, according to the provisional results from Deutsche Bundesbank, the country's current account - defined as the sum of the balance of trade, net income from abroad and net current transfers - declined to €12.3 billion, compared with a revised €24.7 billion in the preceding month. Economists had expected a reading of €16.7 billion.
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The pair recorded a decrease on Wednesday session. The price went down from the start of trading day and the euro lost 34 pips. The graphics continued to develop over moving averages, while the relative strength index remained neutral. If the downward trend continues, the price will reach the support at 1.1180.
Yesterday the EURUSD fell with a narrow range and closed in the red at the middle of the daily range, creating a 3rd inside day.
The currency managed to close above the 10 and 50-day moving averages as it continues in a range bound move around the two moving averages since the end of September.
The key levels to watch are 1.1460 (Resistance), 1.1237 (support) and 1.1097 (support).
FOMC meeting minutes push EUR/USD to test 1.1300 next resistance level 1.1370.
EUR/USD slightly higher amid choppy trade after release of Fed minutes
EUR/USD closed slightly higher during a choppy end to Thursday's session, after the release of dovish minutes from the Federal Open Market Committee's September lent support to a delayed interest rate hike beyond the end of the year.
The currency pair traded between a low of 1.1238 and a high of 1.1326 before settling at 1.1275, up 0.0038 or 0.33% on the session. The euro surged to two-week highs shortly after the release, before paring most of the gains late in the trading day. The pair has remained in a holding pattern over the last two weeks of trading, reflecting investors' hesitancy to make any moves before both the European Central Bank and the FOMC meet later this month. EUR/USD has failed to close by more than 1% in a positive or negative direction over the last 13 sessions.
EUR/USD likely gained support at 1.1103, the low from Sept.23 and was met with resistance at 1.1460, the high from Sept.18.
During its September monetary policy meeting, the FOMC voted nearly unanimously to leave its benchmark Federal Funds Rate unchanged, marking the 55th consecutive meeting that it decided to hold rates at its current near-zero level. Citing mounting concerns related to slowing growth in China along with a host of emerging market economies, the Federal Reserve decided the timing was not appropriate to normalize monetary policy. The deceleration in economic growth, according to the minutes, led to a spike in the dollar, which the Fed believes is holding down inflation.
Long-term inflation has remained under the Fed's targeted goal of 2% in every month for the last three years. The FOMC also expressed trepidation that a premature rate hike could "erode the credibility" of its inflation objective, if long-term inflation stayed below 2% for a prolonged period. In September, the Fed forecasted that its preferred gauge of inflation will not reach its 2% target until at least the end of 2018.
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