EURUSD on Thursday rose 0.48% to 1.10447. What we know.
|Performance after Thursday|
|Week to-date||1.42%||154.5 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar
Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash
What happened lately
🇺🇸 📆 USD In the week ending 08 April, the Initial Unemployment Insurance Claims rose to 239K compared to previous figure 228K Department of Labor
📆 🇪🇺 EUR Industrial Production seasonal adjustment. (1-mth) | Feb in February exceed forecast and rose to 1.5% compared to previous figure 1, revised from 0.7% in January
📆 ☢️ 🇩🇪 EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar in March unchanged at 7.8% compared to previous report in February. The actual figure is also in line with the forecast Destatis
📆 🇨🇳 CNY Trade Balance in USD | Mar in March exceed forecast and dropped to 88.19$ compared to previous figure 116.8$ in February
📆 🇺🇸 USD Monthly Budget Statement | Mar in March exceed forecast and dropped to -378$ compared to previous figure -262$ in February.
📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February Bureau of Labor Statistics
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.48% to 1.10447. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.10833 with break above could target R2 at 1.11218 or figure level area. While towards the downside, we are looking at daily low of 1.09750 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10677 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.42% over the past few days.
Key levels to watch out:
You might be interested in:
Inflation rate in March 2023 at +7.4%. Statistisches Bundesamt (Destatis)
Minutes of the Federal Open Market Committee, March 21-22, 2023. Federal Reserve
CPI for all items rises 0.1% in March as shelter increases. Bureau of Labor Statistics Publications
Volume of retail trade down by 0.8% in the euro area and by 0.9% in the EU. Eurostat
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