29 Nov 2013
EUR/USD eases to 1.3610
FXstreet.com (Edinburgh) - The single currency is extending its weekly gains beyond the 1.3600 handle on Friday, taking the EUR/USD to the area of 1.3615/10 after German data.
EUR/USD focus on CPI data
In the data front, German Retail Sales surprised investors contracting 0.8% inter-month in October and 0.2% over the last twelve months vs. forecasts at 0.5% and 1.3%, respectively. Disinflationary pressures were the main reason behind the recent ECB rate cut, and with that in mind, today’s EMU’s advanced CPI for the month of November will be scrutinized by investors. Market consensus expects both headline CPI and Core CPI to advance 0.8% on a yearly basis.
EUR/USD levels to watch
As of writing, the pair is up 0.02% at 1.3609 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).
EUR/USD focus on CPI data
In the data front, German Retail Sales surprised investors contracting 0.8% inter-month in October and 0.2% over the last twelve months vs. forecasts at 0.5% and 1.3%, respectively. Disinflationary pressures were the main reason behind the recent ECB rate cut, and with that in mind, today’s EMU’s advanced CPI for the month of November will be scrutinized by investors. Market consensus expects both headline CPI and Core CPI to advance 0.8% on a yearly basis.
EUR/USD levels to watch
As of writing, the pair is up 0.02% at 1.3609 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).