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14 Apr 2015
EUR/USD trims losses on Spanish CPI
FXStreet (Edinburgh) - The single currency is recovering some ground following the release of the Spanish inflation figures, with EUR/USD around 1.0560/65.
EUR/USD keeps the red
The demand for the euro remains subdued on Tuesday, although the pair is now attempting a recovery after consumer prices in the Spanish economy rose 0.6% from February to March and contracted 0.7% over the last twelve months. The broader HICP missed previous estimates, contracting further 0.8% YoY and rising 2.0% on a monthly basis.
Next of note will be the Italian inflation figures followed by EMU’s Industrial Production for the month of February.
EUR/USD key levels
The pair is now losing 0.03% at 1.0564 with the next support at 1.0457 (2015 low Mar.16) followed by 1.0400 (psychological level) and then 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0620 (high Apr.13) would target 1.0684 (high Apr.10) en route to 1.0713 (Low Mar.31).
EUR/USD keeps the red
The demand for the euro remains subdued on Tuesday, although the pair is now attempting a recovery after consumer prices in the Spanish economy rose 0.6% from February to March and contracted 0.7% over the last twelve months. The broader HICP missed previous estimates, contracting further 0.8% YoY and rising 2.0% on a monthly basis.
Next of note will be the Italian inflation figures followed by EMU’s Industrial Production for the month of February.
EUR/USD key levels
The pair is now losing 0.03% at 1.0564 with the next support at 1.0457 (2015 low Mar.16) followed by 1.0400 (psychological level) and then 1.0360 (low Jan.8 2003). On the flip side, a breakout of 1.0620 (high Apr.13) would target 1.0684 (high Apr.10) en route to 1.0713 (Low Mar.31).