Euro Continues To Decline As Sellers Take Control
Euro continued to decline against the US dollar as the economic data failed to impress buyers.
German consumer price index released by the Statistiches Bundesamt Deutschland remained unchanged in December 2014 at 0% just as the market expected.
German HICP calculated and published by Destati increased by 0.1% in December 2014.
France Budget Balance released by MINEFA registered a trade deficit of €-90.8B, down from the last deficit of €-84.7B.
Swiss Retail Sales conducted and released by the Swiss Federal Statistical Office declined by 1.2% in November 2014, compared with the preceding month’s gain of 0.3%.
Indian Trade Deficit released by the Ministry of Commerce and Industry came in at $9.43B, down from $16.86B in December.
Euro Zone CPI released by the Eurostat declined by 0.2% whereas the last reading was an increase of 0.3%.
British pound stayed above the 1.5180 support area against the US dollar.
USDCAD pair looks set for a test of the 1.2000-20 resistance area in the near term.
US Consumer Price Index
Earlier during the NY session, the US Consumer Price Index was released by the US Bureau of Labor Statistics. The forecast was slated for an increase of 0.7% in December 2014, compared with the same month of the last year. However, the outcome was a touch higher as the US Consumer Price Index rose by 0.8% in December 2014. Moreover, the month-over-month decline was around -0.4%. Overall, the result was not bad, and the US dollar traded higher after the release.
German and Euro Zone CPI
Earlier during the London session, there were a couple of releases lined up in the Euro area including the consumer price index. The first one was the German consumer price index released by the Statistiches Bundesamt Deutschland. The market was expecting it to remain flat in December 2014 at 0%. The outcome was in line with the forecast. Moreover, the year-over-year change was also as expected with an increase of 0.2%. However, we cannot overlook the fact that it declined from 0.6% to 0.2%. The report highlighted that towards the end of the year, a stronger decline was observed in the prices of energy products, which fell by 6.6% compared with December 2013. The data was on the negative side, as the German CPI registered a level which is the lowest level since October 2009.
Moreover, the Euro zone consumer price index was also released by the Eurostat. The forecast was of a 0.2% decline. When we look at the monthly change, then the CPI declined by 0.1% in December 2014, compared with the preceding month’s decline of 0.2%. The Euro was not impressed by the result and was seen trading back towards the 1.1580 level against the US dollar.
Technically, the EURUSD pair looks like heading towards the 1.1500 support area which holds the key in the medium term. The mentioned level is a major barrier for the Euro sellers and we might witness a strong reaction if the pair reaches there.
When there is a will there is a trade
A successful Forex trader and expert advisor
UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.
US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound
Taking into account today’s volatile economy GTCM endeavors to provide its clients with a secure trading environment and strong financial services. We aim to establish a strong relationship with our customers by providing them with ease, transparency and accountability on all their account activities
Banc De Binary is home to the 21st century investor. Founded in the wake of the 2008 financial crisis, we set out to provide the simplest, most profitable trading solutions, and have built a following among customers in over 80 countries worldwide. Today, we provide access to the financial markets via our online binary options platform to 250,000 account holders. As a World Finance listed company and multi award-winning firm, we are proud to be able to guarantee a safe and risk-controlled environment for all our valued clients.
HY Markets is a market leader in providing retail and institutional investors with access to foreign exchange and other capital markets. With HY Markets you can trade forex, metals such as gold and silver, energy products such as US oil and natural gas, commodities, indices as well as stocks, all from a single integrated account.
Ikon Markets are an online trading service provider affiliated to the Ikon Group, an acclaimed global network for online financial trading. Prior to the introduction of our online segment. We, at Ikon, have had many years of experience in providing financial trading services to institutional investors, such as banks, large financial institutions and mutual fund companies.