31 Jan 2014
EUR/USD softer on German data
FXstreet.com (Edinburgh) - The downbeat tone prevails around the shared currency at the end of the week, with the EUR/USD below 1.3540 after poor German data.
EUR/USD weaker on data, eyes on EMU’s CPI
The pair continues to suffer during the European morning, after German Retail Sales have disappointed investors contracting 2.4% MoM in December and 2.5% over the last twelve months. Market participants now look to EMU’s preliminary consumer prices for the month of January, expected to have advanced 0.9% on a yearly basis. The release would be crucial ahead of the BCE meeting due next week. Across the pond, Personal Income/Spending and Consumer Sentiment by the Reuters/Michigan index will be in the limelight.
EUR/USD key levels
The pair is down 0.09% at 1.3535 and a break below 1.3530 (low Jan.23) would expose 1.3517 (low Jan.21) and then 1.3508 (2014 low Jan.20). On the upside, the initial hurdle aligns at 1.3564 (daily cloud base) followed by 1.3601 (100-d MA) and finally 1.3615 (10-d MA).
EUR/USD weaker on data, eyes on EMU’s CPI
The pair continues to suffer during the European morning, after German Retail Sales have disappointed investors contracting 2.4% MoM in December and 2.5% over the last twelve months. Market participants now look to EMU’s preliminary consumer prices for the month of January, expected to have advanced 0.9% on a yearly basis. The release would be crucial ahead of the BCE meeting due next week. Across the pond, Personal Income/Spending and Consumer Sentiment by the Reuters/Michigan index will be in the limelight.
EUR/USD key levels
The pair is down 0.09% at 1.3535 and a break below 1.3530 (low Jan.23) would expose 1.3517 (low Jan.21) and then 1.3508 (2014 low Jan.20). On the upside, the initial hurdle aligns at 1.3564 (daily cloud base) followed by 1.3601 (100-d MA) and finally 1.3615 (10-d MA).