EURUSD on Thursday rose 0.86% to 1.12241. What we know.
|Performance after Thursday|
|Week to-date||2.37%||260.1 Pips|
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in June unchanged at 0.1% compared to previous report in May.
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in May below forecast and dropped to 0.2% compared to previous figure 1% in April
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June below forecast and dropped to 0.2% compared to previous figure 0.4% in May Bureau of Labor Statistics
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.86% to 1.12241. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
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 1.12598 with break above could target R2 at 1.12955 or figure level area. While towards the downside, we are looking at daily low of 1.11280 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.12296 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 2.37% over the past few days.
Key levels to watch out:
You might be interested in:
Construction of buildings indices, Civil engineering indices and miscellaneous indices for construction in May 2023. INSEE
In June 2023, the prices of frequently purchased goods sold in hyper and supermarkets rose by 13.8% year on year. INSEE
In June 2023, consumer prices increased by 0.2% over one month and by 4.5% year on year. INSEE
The Housing Rent Reference Index in Q2 2023. INSEE
CPI for all items rises 0.2% in June; shelter up. Bureau of Labor Statistics
Philip R. Lane: The banking channel of monetary policy tightening in the euro area. European Central Bank
Inflation rate in June 2023 at +6.4%. Statistisches Bundesamt (Destatis)