OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD muted on EMU’s CPI

FXStreet (Edinburgh) - The European currency kept the composure after the release of EMU’s CPI figures, with EUR/USD hovering over the 1.1230/20 band.

EUR/USD in red above of 1.1200

The pair remained within the recent range despite consumer prices in the euro area have disappointed expectations, with CPI contracting at an annual pace of 0.1% vs. forecasts for a flat reading and down from July’s 0.1% advance. The core print stayed put at 0.9%, matching estimates.

Further releases have seen the unemployment in the euro bloc ticking higher to 11.0% during August, up from the 10.9% previous and initially forecasted. Next of relevance in the pair will be the ADP Employment Change (195K exp.) followed by the speech by Chairwoman J.Yellen.

EUR/USD levels to watch

As of writing the pair is losing 0.18% at 1.1227 and a breakdown of 1.1194 (low Sep.29) would aim for 1.1146 (low Sep.28) and then 1.1105 (low Sep.23). On the other hand, the initial resistance aligns at 1.1281 (high Sep.29) followed by 1.1296 (high Sep.24) and finally 1.1330 (high Sep.21).

Eurozone back in deflation

As per the latest data from the Eurostat, the 17-nation currency bloc is back in deflation as prices fell 0.1% on an annual basis in September.
Read more Previous

EUR/JPY wavers around 135 on EU CPI

The bid tone around the EUR/JPY cross reduced slightly in the mid-European session after the euro received fresh blow from the EU CPI figures which showed deflation returning in the 19-nations bloc.
Read more Next
Start livechat