Overview
Fundamental Analysis
EUR
"Deflation is perhaps becoming more of a risk than inflation for the eurozone, although it remains unlikely for now at least."
- HIS Global Insight analyst Howard Archer
Consumer prices hike in the 17-nation economy has slowed to the lowest level in more than three years, as fuel and telecommunications costs dropped substantially, the EU statistics office, Eurostat said Thursday.
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Technical Analysis
EUR/USD
"U.S. bond prices gained sharply yesterday despite William's comments. Each market has its own interpretation now and there's no broad consensus on the Fed's stance yet."
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
It looks like 1.2874/46 will be unable to withstand bearish pressure and thus will give in, ...
Fundamental Analysis
EUR
"The first-quarter contraction reinforces pressure on the ECB to come up with further measures to try and support euro-zone growth."
- Howard Archer, an economist at IHS Global Insight
The 17-nation economy has slumped into its longest recession ever, as the economic activity in the region fell for a sixth quarter in a row. Gross domestic product in the Eurozone shrank 0.2% in the first three months of 2013 after a 0.6% decline in the previous quarter, and below analysts’ expectations of a 0.1% slump.
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Technical Analysis
EUR/USD
"The euro zone GDP data reinforced expectations of additional easing from the ECB."
- Commonwealth Foreign Exchange (based on CNBC)
Even though EUR/USD was facing a strong support zone at ...
Fundamental Analysis
EUR
"Despite mostly positive economic data for the German economy, the ZEW indicator remains at the level of the previous month."
- ZEW President Clemens Fuest
Confidence among businesses in Europe’s largest economy improved slightly this May, however, less than expected, adding to signs the economic outlook worsens as the Euro region remains mired in recession.
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Technical Analysis
EUR/USD
"The dollar remains the king of the hill in currency markets."
- CMC Markets (based on MarketWatch)
A bearish breakout from the channel up revived the sell-off, which has pushed the price already beneath the moving average for 55 days. At the moment a line at 1.5240/33 is an obstacle for continuation of the leg down, while a monthly ...
Fundamental Analysis
EUR
"We are at a very critical stage at the moment and there are indicators that uncertainty is on the rise again."
- Joerg Kraemer, chief economist at Commerzbank AG
The Eurozone economy is most likely to shrink in the first three months of this year, suffering the longest recession since the single currency’s creation. On Wednesday the European statistics office Eurostat will show that the region’s gross domestic product contracted 0.1% in the first quarter of 2013, after a 0.6% contraction in the preceding quarter.
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Technical Analysis
EUR/USD
"The ZEW Center for European Economic Research in Mannheim will probably say its index of investor and analyst expectations, rose to 40 from 36.3 in April."
- Estimation of ...
Fundamental Analysis
EUR
"The latest data from Germany are pretty strong."
- Marco Valli, chief euro-area economist at UniCredit Global Research
Exports from Europe’s largest economy increased in March, adding to signs German economy is starting to recover from a contraction at the end of the last year. According to the Federal Statistics Office, the nation’s shipments, adjusted for working days and seasonal changes, advanced 0.5% from February, when they fell 1.2%.
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Technical Analysis
EUR/USD
"We are at a very critical stage at the moment and there are indicators that uncertainty is on the rise again. It is essential for the euro area to find the right mix between necessary austerity and measures to support economic growth as soon as ...
Fundamental Analysis
EUR
"It is important that the interest rate is quickly normalised when the situation improves."
- Bundesbank chief Jens Weidmann
The number of unemployed people in Portugal soared to a fresh high in the first three months of 2013, the data published by National Statistics Institute showed Wednesday.
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Technical Analysis
EUR/USD
"The concerns recently from the policy makers in the euro zone have been that the core has been slowing."
- Royal Bank of Scotland (based on Reuters)
The common currency of 17 nations smashed yesterday, as the price slipped from the 100-day SMA at 1.3146, dropped through the 200-day SMA at 1.3070 and was stopped only around a 1.3021 level, where the weekly S1 is positioned.
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Fundamental Analysis
EUR
"German industry has entered the current quarter with a lot of momentum."
- Heinrich Bayer, an economist at Deutsche Postbank AG
Output at German manufacturers improved unexpectedly in March, reviving hopes about the strength of Europe's biggest economy. Production increased 1.2% from February, when it gained 0.6%, the Economy Ministry said Wednesday.
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Technical Analysis
EUR/USD
"The concerns recently from the policy makers in the euro zone have been that the core has been slowing."
- Royal Bank of Scotland (based on Reuters)
EUR/USD is pressed in a channel for more than a month, as the pair is traded between the 100-day at 1.3151 and the 55-day SMA at 1.3007. As the pair is traded flat so long, the both Bollinger ...
Fundamental Analysis
EUR
"The report suggests that, having eased in the first quarter of the year, the euro zone’s economic downturn is likely to have gathered momentum again in the second quarter."
- Chris Williamson, Chief Economist at Markit
Retail sales in the Euro area fell in March in line with economists’ expectations, adding to signs that consumer demand is still weak, which is hampering recovery in the currency’s bloc economy.
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Technical Analysis
EUR/USD
"The market may have taken that as a little bit of a stronger chance that could cut rates even further, into negative territory."
- TD Securities (based on MarketWatch)
Upward impetus the currency pair has received from the 200-day SMA was insufficient to throw EUR/USD over the ...
Fundamental Analysis
EUR
"In view of the protracted recession, we must do whatever it takes to overcome the unemployment crisis in Europe."
- EU Economic and Monetary Affairs Commissioner Olli Rehn
The 17-nation economy is now expected to shrink more than previously estimated this year, as latest data is adding to concerns that the economy is far away from the recovery, the European Commission said Friday.
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Technical Analysis
EUR/USD
"The U.S. is a relatively strong story amidst anemic growth at best if not outright recession in Europe and elsewhere. So we still favor the U.S. dollar, particularly against G-10 currencies, for the first half."
- Standard Chartered (based on CNBC)
A support area, formed by a combination of the 20 and 200- ...