16 Jan 2015
EUR/USD unchanged on CPI
FXStreet (Edinburgh) - The common currency kept the composure after the release of EMU’s CPI on Friday, with EUR/USD clinging to the 1.1630 region.
EUR/USD now focus on the ECB
Spot almost ignored the release of consumer prices in the euro bloc for the month of December, meeting previous estimates for a 0.2% drop inter-month and -0.1% over the last twelve months. The Core print gained 0.7%, below forecasts for a 0.8% climb and matching November’s reading. That was all data wise in the euro zone, with the ECB meeting on January 22nd as the next risk event. Still in the data front, although in the US, Industrial Production, the Reuters/Michigan index and the inflation tracked by the CPI are all due later.
EUR/USD key levels
At the moment the pair is up 0.15% at 1.1636 with the initial resistance at 1.1792 (high Jan.15) ahead of 1.1845 (10-d MA) and finally 1.1871 (high Jan.12). On the downside, a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003).
EUR/USD now focus on the ECB
Spot almost ignored the release of consumer prices in the euro bloc for the month of December, meeting previous estimates for a 0.2% drop inter-month and -0.1% over the last twelve months. The Core print gained 0.7%, below forecasts for a 0.8% climb and matching November’s reading. That was all data wise in the euro zone, with the ECB meeting on January 22nd as the next risk event. Still in the data front, although in the US, Industrial Production, the Reuters/Michigan index and the inflation tracked by the CPI are all due later.
EUR/USD key levels
At the moment the pair is up 0.15% at 1.1636 with the initial resistance at 1.1792 (high Jan.15) ahead of 1.1845 (10-d MA) and finally 1.1871 (high Jan.12). On the downside, a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003).