OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD muted after German PPI

FXstreet.com (Barcelona) - The shared currency posted no reaction after German producer Prices came in short of expectations on Wednesday, rising 1.2% over the last twelve months and contracting 0.1% MoM, vs. 1.5% and 0.2% expected, respectively.

After yesterday Parliamentary vote on the deposit-tax in Cyprus’s bailout, Cypriot officials would be now looking to Russia, although these are all unconfirmed rumours.

As of writing, the cross is up 0.14% at 1.2887 with the next hurdle at 1.2970 (high Mar.19) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).
On the flip side, a breakdown of 1.2844 (low Mar.19) would expose 1.2827 (low Nov.22) and finally 1.2730 (low Nov.19).

Germany: Annual PPI grows less than expected in February

According to data released today by Destatis, German annual Producer Price Index rose 1.2% in February, following a 1.7% increase registered the previous month. Market experts forecasted more growth of 1.5%.
Read more Previous

Asian markets mixed on Wednesday, Japan closed for holiday

Hong Kong’s Hang Seng (+0.83%) and Mainland China’s Shanghai Composite (+2.61%) have recovered losses made since the weekend trigger, the bailout to Cyprus, but South Korea’s Kospi (-0.97%) and India’s Bombay Sensitive (-0.47%) fell on Wednesday. Japan was closed for Vernal Equinox Day.
Read more Next
Start livechat