Improving Eurozone Data Could Support EUR in the Short Term

3 February, 2016

Improving Eurozone Data Could Support EUR in the Short Term

EURAUD, Daily

Eurozone unemployment shows modest signs of improvement and other Eurozone data may also start to print a better outlook for the Eurozone economy over the short term that may add to support the EUR longs. However, markets are on edge that over the medium term further ECB easing still remains a possibility, and that could keep a lid on the EUR.

The Reserve Bank of Australia left rates unchanged, while the monetary policy remains dovish, adding to the short term weakness on the AUD.

Technically, the EURAUD pair remains within the upward bull channel printing higher highs and higher lows since the December low (1.4353). Momentum analysis seems to be turning upward and current price is above its 10 and 50 SMA’s. I remain with the conclusion that as long as price can hold above the 1.5090 – 1.5180 support zone, long positions can be supported for targets in the 1.5610 – 1.5790 zones.


Source link  
The dollar remained on the ebb

The narrow trade-weighted USD index is showing a modest 0.2% loss as the London interbank opens, at 93.23, having extended the decline from...

Trump bump seemed to get renewed

That added to an already optimistic tone after signs of solid consumption growth and fixed investment in the U.S. Q2 GDP and with the strength...

Fed VC Fischer steered clear of policy

Asian stock markets moved modestly higher on the last day of the third quarter. Hopes that the U.S. tax reform will boost growth underpinned...


FTSE 100 futures are slightly higher

Asian stock markets are narrowly mixed and fluctuating at high levels, as trading volumes are low and investors await the Fed decision...

Markets have come quite a way up

Both central banks are widely expected to keep policy on hold, but the BoE’s statement in particular will be watched carefully...

Dollar traded softer vs many currencies

European Outlook: Asian stock markets mostly moved higher in quiet trade, after Wall Street managed to close with slight gains...


Oil prices are holding above USD 49

Yesterday there was a relatively dovish view from the nonvoting president, Fed Bullard, who continues to twist between a hawkish...

Dollar majors playing narrow ranges

EUR-USD held in the upper 1.18s, below the 31-month high logged midweek at 1.1910, and Cable settled in the mid 1.31s, consolidating the sharp losses...

UK100 is at 0.62% gain for the day

UK preliminary Q2 GDP came on the nose at 0.3% q/q and 1.7% y/y, up from Q1’s 0.2% in the case of the q/q figure and down from Q1’s 2.0% y/y...

  


Share: