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27 Jan 2014
EUR/USD through 1.3700 on IFO
FXstreet.com (Edinburgh) - The EUR/USD printed a fresh session high near 1.3710 after the German IFO indicator matched market consensus, improving during the month of January.
EUR/USD now looks at US docket, Weidmann speech
The pair remained mostly indifferent despite the German IFO showed better figures in al three Expectations, Current Assessment and Business Climate components, advancing to 108.9, 112.4 and 110.6 respectively. In the wake of the recent releases, analyst Carsten Brzeski at ING commented, “Looking ahead, with a solid labour market, higher real wages, favourable financing conditions, the gradual investment pick-up, filled order books and low inventories, strong fundamentals still make a compelling case for a strong growth performance of the German economy this year”. Next on tap across the pond will be the Markit Services PMI and New Home Sales, ahead of the speech by Buba’s President J.Weidmann.
EUR/USD levels to follow
As of writing the pair is up 0.21% at 1.3705 and a break above 1.3740 (high Jan.24) would target 1.3776 (2014 high Jan.2) en route to 1.3819 (high Dec.30). On the flip side, a the immediate support lines up at 1.3662 (daily cloud top) followed by 1.3645 (21-d MA) and finally 1.3610 (10-d MA).
EUR/USD now looks at US docket, Weidmann speech
The pair remained mostly indifferent despite the German IFO showed better figures in al three Expectations, Current Assessment and Business Climate components, advancing to 108.9, 112.4 and 110.6 respectively. In the wake of the recent releases, analyst Carsten Brzeski at ING commented, “Looking ahead, with a solid labour market, higher real wages, favourable financing conditions, the gradual investment pick-up, filled order books and low inventories, strong fundamentals still make a compelling case for a strong growth performance of the German economy this year”. Next on tap across the pond will be the Markit Services PMI and New Home Sales, ahead of the speech by Buba’s President J.Weidmann.
EUR/USD levels to follow
As of writing the pair is up 0.21% at 1.3705 and a break above 1.3740 (high Jan.24) would target 1.3776 (2014 high Jan.2) en route to 1.3819 (high Dec.30). On the flip side, a the immediate support lines up at 1.3662 (daily cloud top) followed by 1.3645 (21-d MA) and finally 1.3610 (10-d MA).