OctaFX | OctaFX Forex Broker
Open trading account
Back

Europe’s focus this morning has been the flash inflation prints – TDS

FXStreet (Barcelona) - The TD Securities Research Team note that the focus in Europe this morning has been dominated by the flash inflation prints.

Key Quotes

“The focus in Europe this morning has been dominated by the flash inflation prints. Spanish CPI was weaker than expected falling to -0.5% Y/Y (consensus: -0.3%, prior -0.25) and Belgian CPI fell to -0.1% Y/Y from +0.2%.”

“We have also had German regional CPI data this morning which are looking on the soft side too. We continue to expect the German HICP print to fall from 0.7% Y/Y to 0.5% but see downside risks after the regional prints.”

“We also had the release of better than expected German unemployment data and a speech from Draghi. Although he didn’t say anything new, his comments continue to be dovish but he refused to answer any questions on policy citing the blackout period ahead of next week’s ECB meeting.”

Yesterday’s low is today’s support for EUR/USD – FXStreet

Valeria Bednarik, Chief Analyst at FXStreet notes that yesterday’s low at 1.2443 stands as immediate support for the EUR/USD pair, a break below this can lead the pair to test 1.2400 levels again.
Read more Previous

EUR/JPY consolidates near daily lows

EUR/JPY fell to fresh daily lows during the European session, as the shared currency weakened after disappointing Eurozone data and more dovish comments from ECB President Draghi.
Read more Next
Start livechat