We can observe a downward pressure on Euro with the effect of Deutsche Bank. At the last days of September, inflation and unemployment figures were followed in the EU zone. Headline inflation rose 0.4 per cent, parallel to market expectations, while core inflation was 0.9% of the market rose 0.8 % below forecast. The EU zone unemployment rate continues in double digits with 10.1 %. On the US side, personal income increased by 0.2 %, while there has been a change in personal expenses. The inflation target that the Fed follows the market carefully, showed an increase the core personal consumption expenditures data in parallel to the expectations of 1.7 %.
After the relaxation toward the bottom of the level of support 1.1200, the parity started to show some recovery keys. The consumer price index estimation of EU zone declared as 0.4% level with an increase. The data in detail, it is seen that the negative energy reduced created by the pressure. With the data provided from informal OPEC meeting at the last days of September, it may reduce the pressure of EUR/USD parity by increasing oil prices on the global forex market. At this point, the formal decisions to be taken at the OPEC meeting on 30 November in the euro area the impact on the inflation rate may be helpful for the European Central Bank. On the other hand, the unemployment rate for the month of August came in parallel with the expectations. The parity data described in the Euro area had a limited impact. The direction of the news is effecting more from the Deutsche Bank data. On the other hand, in these days of the dollar index is approaching the level of what you expect the pressure to be 96. If we look at the personal income and spending data of the USA in August, the spending part is a bit decreased.
Short Technical Overview of EUR / USD Market
As a monthly result of September , we can say the congestion area is continuing on EUR/USD parity. After testing the rising trend of the last level during the last days of the month, 1.1150, the pair again came to the correct response of 1.1200 level. Parity, 1.12 – 1.1190 adhesions on the support area in the case of 1.1235 / 1.1270 resistance can be monitored. The rising trend in drawdowns to be staying on top of movements can lead to react again.
Resistance : 1.1235 / 1.1270 / 1.1285 Support : 1.1190 / 1.1120 / 1.1100
- Date: 10 October 2016 Mon 00:55
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