30 Jan 2015
EUR bid despite disappointing German CPI - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the dollar was back on Thursday, edging higher against most of its rivals, with the surprising exception of the EUR.
Key Quotes:
"The common currency traded in positive territory ever since opening the day in the 1.1260 price zone past Asian session, finding some support early Europe in German unemployment rate, down to 6.5% the lowest on record. Inflation in the country however, declined below expected, falling for the first time in 5 years and signaling the strongest economy of the EZ was unable to escape deflation."
"US data on the other hand was mixed, with weekly unemployment claims down to 265K last week, the best in 15 years, while Pending Home Sales stalled in December, losing 3.7% but above year-over-year levels for the fourth consecutive month. On Friday, Europe will release its monthly inflation figures, expected to fall further."
Key Quotes:
"The common currency traded in positive territory ever since opening the day in the 1.1260 price zone past Asian session, finding some support early Europe in German unemployment rate, down to 6.5% the lowest on record. Inflation in the country however, declined below expected, falling for the first time in 5 years and signaling the strongest economy of the EZ was unable to escape deflation."
"US data on the other hand was mixed, with weekly unemployment claims down to 265K last week, the best in 15 years, while Pending Home Sales stalled in December, losing 3.7% but above year-over-year levels for the fourth consecutive month. On Friday, Europe will release its monthly inflation figures, expected to fall further."