Euro Consolidates Around 1.0550 Post Losses

Euro Consolidates Around 1.0550 Post Losses

By: Darryl Frankfort | Where To Trade | On:14-04-2015 17:29
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Key Highlights

  • Euro after declining sharply against the US dollar recently managed to hold the ground, and currently consolidating around important levels and setting up for the next move.

  • German wholesale price Index i.e. the value of sales made by wholesalers in Germany released by the Statistisches Bundesamt Deutschland registered an increase of 1% in March 2015, compared preceding month and the last rise was of 0.5%.

  • In terms of the yearly change, the German wholesale price Index declined by 1.1% in March.

  • In New Zealand, the REINZ House Price Index i.e. a stratified housing price index was released, which posted an increase of 6.7% in March 2015, compared to the preceding month.

  • Spanish Consumer Price Index i.e. a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services released by the National Institute of Statistics registered a rise of 0.6% March 2015, which was as expected.

  • In terms of the yearly change, the Spanish Consumer Price Index posted a decrease of 0.7% in March, compared to the same month a year ago which was also as expected.

  • Italian Consumer Price Index i.e. a measure of price movements released by the ISTAT registered a rise of 0.1% March 2015, which was in line with the forecast.

  • In terms of the yearly change, the Italian Consumer Price Index registered a decrease of 0.1% in March, compared to the same month a year ago which was also as per the forecast.

German WPI

In the Euro zone, there were a couple of important releases lined up, including the German WPI, Italian CPI and Spanish CPI. The first one was the German wholesale price Index i.e. the value of sales made by wholesalers in Germany released by the Statistisches Bundesamt Deutschland. The forecast was lined up for an increase in March 2015 compared to the preceding month, and the outcome was in line as the German wholesale price Index registered an increase of 1% in March 2015.

When we speak of the yearly change, then the German wholesale price Index declined by 1.1% in March 2015, compared to the same month a year ago. This was somehow better when compared to the last decline of 2.1%.

Spanish CPI

The next important release was the Spanish Consumer Price Index i.e. a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services, which was released by the National Institute of Statistics. The outcome was in line with the forecast, as the CPI posted an increase of 0.6% March 2015, compared to Feb 2015.

Technical Outlook – EURUSD

The bearish pressure on the Euro was somehow decreased during the London session, as the EURUSD pair was seen consolidating in a range. The pair lately found support around the 1.0500-20 area and traded back higher. It managed to recover ground. However, it still remains at risk as long as the 1.0620 pivot area stays intact.

 

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FX Market Continues To Consolidate Post Dollar Losses

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By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

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