EURUSD on Thursday rose 0.07% to 1.08540. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||1.58%||169.2 Pips|
Upcoming key events (London Time)
Fri 08:30 AM EUR European Central Bank’s President Christine Lagarde speech
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in October dropped to -0.6% compared to previous figure 0.1% (revised from 0.3%)
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in November below forecast and improved to -5.9 points compared to previous figure -9 points in October
🇺🇸 U.S. New York Empire State Manufacturing Index in November exceed forecast and rose to 9.1 points compared to previous figure -4.6 points in October
🇺🇸 U.S. Producer Price Index (12-mth) in October below forecast and dropped to 1.3% compared to previous figure 2.2% in September
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in September exceed forecast and dropped to -1.1% compared to previous figure 0.6% in August
Latest from X (Twitter)
What can we expect from EURUSD today?
EURUSD on Thursday rose 0.07% to 1.08540. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08241 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08955 or trades above daily pivot 1.08598. Break above could target R1 at 1.08897. While to the downside, we are looking at 1.08241 (S1) and daily low of 1.08299 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08955 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 1.58% over the past few days.
Key levels to watch out:
You might be interested in:
In Q3 2023, collective tourist attendance slightly decreased over a year (‑0.2%). INSEE
In Q3 2023, hourly wages increased by 4.2% over a year, hourly costs by 4.0%. INSEE
Manufacturing and Trade Inventories and Sales. Census Bureau
Advance Monthly Sales for Retail and Food Services. Census Bureau
In October 2023, the prices of frequently purchased goods sold in hyper and supermarkets rose by 8.4% year on year. INSEE
Construction of buildings indices, Civil engineering indices and miscellaneous indices for construction in September 2023. INSEE
Industrial production down by 1.1% in the euro area and by 0.9% in the EU. Eurostat
Euro area international trade in goods surplus €10.0 bn. Eurostat
In October 2023, consumer prices increased by 0.1% over one month and by 4.0% year on year. INSEE
In Q3 2023, the unemployment rate increased by 0.2 points. INSEE
CPI for all items unchanged in October; shelter up. Bureau of Labor Statistics
GDP down by 0.1% and employment up by 0.3% in the euro area. Eurostat