Week Euro

Week Euro

19 setembro 2016, 12:25
Thalya Braga Manilha
0
41

EURO

Data Review

  • GER CPI (MoM) 0.0% vs. 0.0% Expected
  • EZ Employment (QoQ) 0.4% vs. 0.4% Prior
  • GER ZEW Survey (Current Situation) 55.1 vs. 56.0 Expected
  • GER ZEW Survey (Economic Sentiment) 0.5 vs. 2.5 Expected
  • EZ ZEW Survey (Economic Sentiment) 5.4 vs. 4.6 Prior
  • Industrial Production (MoM) -1.1% vs. 1.0% Expected
  • EZ Trade Balance €20.0b vs. €22.0b Expected
  • EZ CPI (MoM) 0.1% vs. 0.1% Expected
  • SNB Leaves Rates Unchanged

Data Review

  • GER PPI- Potential for downside surprise given lower wholesale prices
  • GER and EZ Services, Manufacturing and Composite PMI Report- Potential for downside surprise given weaker industrial production, weaker factory orders and lower ZEW

Key Levels - EUR/USD

  • Support 1.1000
  • Resistance 1.1250

EUR/USD spent the whole week in consolidation mode within a narrow 80 pip range before breaking lower on Friday. The currency pair is still holding above the 200-day SMA near 1.1145, which is the level to watch next week. Between the Federal Reserve’s monetary policy announcement and September Eurozone flash PMIs, we can be assured there will big moves in EUR/USD. The direction will be determined by FOMC but if the dollar rallies after the Federal Reserve’s rate decision and Eurozone PMIs decline, we could EUR/USD hit 1.10.

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