OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD muted after Italian data

The bloc currency stayed put around the 1.3410/15 region in the wake of industrial data from Italy during December, as industrial orders contracted 1.8% MoM and 15.3% over the last twelve months while industrial sales gained 0.8% on a monthly basis and fell 6.3% YoY.

Next on tap in the euro area would be the German 10-yr bond auction, ahead of the FOMC minutes due in the European evening.

At the moment, the pair is up 0.17% with the next resistance lying at 1.3444 (MA21d) ahead of 1.3456 (high Feb.14) and then1.3472 (trend line off Feb. high)
On the opposite direction, a dip below 1.3307 (low Feb.15) would open the door to 1.3286 (low Jan.24) and finally 1.3276 (MA55d).

Forex Flash: Chinese rail freight tariff hike can lead to rate cuts in H2 - Nomura

Nomura Economists Zhiwei Zhang and Wendy Chen not that last night saw the largest hike in the rail freight tariff since 2003, which reinforces their view that CPI inflation will rise above 3.5% in H2 and lead to two interest rate hikes.
Read more Previous

Forex Flash: EUR/USD continues hunt for catalysts - OCBC Bank

Emmanuel Ng notes that EUR/USD may have to search for cues ahead of the hotly anticipated Italian elections.
Read more Next
Start livechat