Eur/usd - page 131
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French Business Confidence 97 vs. 98 forecast
French business confidence rose less-than-expected in the last quarter, official data showed on Wednesday.
In a report, INSEE said that French Business Confidence rose to an annual rate of 97, from 97 in the preceding quarter whose figure was revised down from 98.
Analysts had expected French Business Confidence to rise 98 in the last quarter.
we will see regain on eur/usd today up to 1.347
I hope so man , but i dont think it will , let us wait an see.
EURUSD broke down during yesterday session, slicing through the 1.3476 support with ease. That shows real weakness, and as a result the market should continue to go lower, probably heading to the 1.33 level, but today expect a narrow range day.
Bank of Spain sees GDP growth picking up to 2 pct in 2015
The Bank of Spain revised up its economic growth forecasts for this year and next on Wednesday, saying it expected a 2 percent expansion in 2015 after internal demand and business investment gathered pace in recent weeks.
The central bank, which now sees the Spanish economy growing 1.3 percent this year compared to 1.2 percent previously, had forecast in March that gross domestic product would grow by 1.7 percent in 2015.
The central bank said GDP had probably grown 0.5 percent between April and June compared with the previous quarter, after a 0.4 percent expansion in the first three months of 2014.
"The private components of domestic expenditure - consumption and business investment, essentially - were the mainstay of GDP in Q2," it said in its economic bulletin.
"This prolonged a pattern prevailing since the recovery began in mid-2013, marked by the progressive strengthening of domestic demand."
Spain has been in or near recession since a decade-long property bubble burst in 2008, though it expanded at its fastest quarterly pace in six years between January and March, raising hopes it had turned a corner.
Unemployment remains the second highest in Europe, at 25.9 percent, however, and the deficit is not set to drop to the European Commission's recommended 3 percent until 2016.
source
I'm with the downtrend nothing changed no sign that the EUR regained its strength
Eurozone Consumer Confidence Unexpectedly Falls In July
Euro area consumer confidence deteriorated for a second straight month in July, preliminary data from the European Commission showed Wednesday.
The flash consumer confidence index for Eurozone fell to -8.4 from -7.5 in June. Economists had forecast the score remain unchanged.
The confidence index for the EU declined by 1.2 points to -5.5.
The final figures will be released along with the economic sentiment data on July 30.
read more
French manufacturing PMI falls to 7-month low of 47.6 in July
Manufacturing activity in France contracted at the fastest pace in seven months in July, underlining concerns over the economic outlook of the euro zone’s second-largest economy, preliminary data showed on Thursday.
In a report, market research group Markit said that its preliminary French manufacturing purchasing managers’ index fell to a seasonally adjusted 47.6 this month from a final reading of 48.2 in June. Analysts had expected the index to dip to 48.1 in July.
Meanwhile, the preliminary services purchasing managers’ index improved to a seasonally adjusted 50.4 this month from 48.2 in June and better than expectations for a reading of 48.4.
A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
Commenting on the report, Jack Kennedy, Senior Economist at Markit said, “PMI data remain consistent with quarterly GDP close to stagnation levels, as the economy continues to show little sign of turning around its recent sluggish performance.”
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.07% to trade at 1.3453, compared to 1.3450 ahead of the data.
EURUSD initially tried to rally during yesterday session, but turned back around and close lower towards the end of the day, forming a doji candle. The range was pretty small though, so it appears that the breakdown is slowing down.