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Euro Tried To Retrace After The Cyprus Gap

 
19 March 2013

Yesterday, the Euro was finally able to recover against the dollar and is currently pursuing its course this morning with a high at $ 1.3070. Prices in the euro dollar (EUR / USD) currently remain between $ 1.30 and $ 1.3130 and may range in this area for a few sessions.

In economic news, the weekly figures on U.S. employment are rather reassuring. The U.S. Department of Labor has identified 332,000 weekly jobless claims in the United States for the week ended March 9, a decrease of 10,000 from the previous week. This decline was unexpected since economists on average expected increase with 348,000 new registrations.

This morning, Eurostat published its final figures for inflation in the euro zone. The consumer prices in the area rose 0.4% in February, bringing inflation to 1.8% annual rate. Inflation in the euro zone is at its lowest level since mid-2010 and remains below the target set by the European Central Bank (target 2.0%).

Around 12:00, the Eurodollar was trading around $ 1.3060 to $ 1.2930 against yesterday at the same time.

At macroeconomic level, traders should be aware of many U.S. indicators: the index of consumer prices at 13.30, the Empire State index of the New York Fed at 13.30, the long-term ICT indicator at 14:00, the industrial production at 14.15 and the index of consumer confidence from the University of Michigan at 14:55.

The chart analysis of daily data parity currency Euro Dollar (EURUSD) identifies a downward trend in the medium term.

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Forex Trading     Exchange rates     Dollar exchange rate     Pound exchange rate     Euro exchange rate
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