
EURUSD Moved Above 1.1000, Eyes a Test of 1.1040
Key Highlights
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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.
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UK Nationwide Housing Prices, in terms of the yearly change gained by 5.2% in April 2015.
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Switzerland Consumption Indicator, which is a leading indicator of private consumption trends, which is the most important component of Swiss GDP published by UBS increase to 1.35.
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Spanish Retail Sales released by the National Institute of Statistics registered an increase of 2.8% in March 2015, compared to the same month a year ago.
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Italian Consumer Confidence released by the National Institute of Statistics registered a rise from the last revised reading of 103.7 to 104.1 in April 2015.
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Euro Zone Consumer Confidence, which is a leading index that measures the level of consumer confidence in economic activity released by the European Commission remained at -4.6.
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Euro Zone Business Climate Indicator was also released, which posted an increase from the last reading of 0.23 to 0.32 in April 2015, compared to the forecast of 0.21.
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Euro Zone Industrial Confidence i.e. an index that measures the level of industrial executives’ confidence was on the negative side and declined to -3.2 in April 2015.
Euro Zone Consumer Confidence
Earlier during the London session, the Euro Zone Consumer Confidence i.e. a leading index that measures the level of consumer confidence in economic activity was released by the European Commission. The market was not expecting any change in the reading from -4.6 in April 2015. The outcome was as expected, as the Euro Zone Consumer Confidence remained flat at -4.6.
Furthermore, the Euro Zone Business Climate Indicator was published, which was forecasted to decline from the last reading of 0.23 to 0.21 in April 2015. However, the outcome was way above the mark, as the Euro Zone Business Climate Indicator increased to 0.32.
The Euro Zone Industrial Confidence, which is an index that measures the level of industrial executives’ confidence was on the lower side. It posted a decline from the last reading of -2.9 to -3.2 in April 2015.
Italian Consumer Confidence
The Italian Consumer Confidence, which represents a survey of the consumer opinions in Italy was released by the National Institute of Statistics. The forecast was of a decline from 110.9 to 110.5 in April 2015. However, the outcome was lower compared to the expectation, as it posted a reading of 108.2. Moreover, the last reading was revised down to 107.7, which was again on the disappointing side. On the other hand, the Italian Business Confidence increased from 103.7 to 104.1 in April 2015.
Technical Outlook – EURUSD
The Euro climbed higher and traded above the 1.1000 resistance area against the US dollar. Let us see if the EURUSD pair can managed to hold the ground in the near term or not. On the upside, the next level of interest can be seen around the 1.1040.
Oliver Miller
"Patience is the key for success"
Oliver Miller is one of the best financial analyst with 18 years of online trading experience
EURUSD Slow and Steady Uptrend
Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.
Euro Above 1.1200 And Looks Set For More Gains
Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.
EURUSD Looks Set To Break 1.0920
Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.
FX Market Continues To Consolidate Post Dollar Losses
US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound
Yen Could Trade Higher Vs US Dollar
Japanese Yen traded higher against the US dollar and looks set for more losses, as the latter one weakened against most major currencies including the Euro and the British Pound.
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