The Euro Area single currency managed to close the week on a positive territory in front of the US dollar. The way there wasn’t that easy, but actually quite bumpy. On Wednesday Euro plunged after an official of the ECB brought back on the table the possibility of getting to negative interest rates. After hitting a low at 1.3565, investors’ enthusiasm brought it back above 1.36 on Thursday, helped also by the low retails sales from the US. On Friday the price of EUR/USD got higher thanks to some … [Read more...]
EUR/USD Forecast February 10-14
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Euro gained back more than 1% last week. In the first part of the week Euro recovered some of the lost ground from two weeks ago, even though the economic data released for the Euro Area wasn’t that good. The services PMIs were mostly under expectations, the Spanish unemployment was higher and German factory orders dropped with 0.5%. The trigger of the rally was actually the fact that the ECB maintained the interest rate. The upside move continued during the press conference when Mario … [Read more...]
EUR/USD Forecast February 3–7
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A pretty hard week has just passed for the Euro fans. The European single currency has got to a loss of 1.35% in front of the US dollar at the closing hour on Friday. During the firs two days EURUSD remained near the opening price. The Euro was helped by a pretty good German IFO Business Climate. It started losing after the FOMC statement which announced another 10B cut in the Quantitative Easing Program. The US dollar started gaining ground. In the second part of the week the good German … [Read more...]
EUR/USD Forecast January 27-31
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It has been a bumpy week for the Euro with the US dollar currency pair. It started by dropping to a new low in the first trading day and maintained a low price during the first part of the week after the German ZEW disappointed, but had a fast comeback after the flash manufacturing and services PMIs got published. All the released PMIs were above analyst forecast surprising the market and building momentum for the Euro buyers. Though it was a very good week for the European single currency it … [Read more...]
EUR/USD Forecast January 20-24
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The European single currency struggled to gain terrain last week in front of the US dollar. It managed to hit the high of the week on Tuesday, when the Industrial Production for the Euro Area was posted 1.8%, 0.2% above analysts’ estimation. It was actually the only economic data posted above the forecasts. The rest of the releases were in line or under the forecasts. The CPI was 0.8%, in line with the estimates, but well under the ECB’s target of 2%. The Core CPI rose with only 0.7%. These … [Read more...]
EUR/USD Forecast For January 13-17
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The Euro has just past through a ruff week, after it hit a new low for this year, managed to recover and close the week with some modest gain. The single currency tried to keep itself higher in the beginning of the week after the good German economic data, but was hit pretty hard by Mario Draghi, at the press conference, right after the ECB announced that it will keep the interest rate unchanged at 0.25%. The European Central Bank's president said that the bank will keep a close look over the … [Read more...]
