Eur/usd - page 347
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EUR/USD: Euro Crosses $1.10 in Ongoing Recovery Mode The shared European currency entered its second session of recovery in a row, breaking the $1.10 handle after it plummeted more than 170 pips after the FOMC meeting on Wednesday.
After the opening bell, the euro was seen higher, successfully emerging above the $1.10 handle after a couple of earlier fails. The EUR/USD edged 0.31% higher to $1.1009.
The European calendar will offer several anticipated releases. Markets will look for Eurozone and Italian CPI and employment data.
Meanwhile, German retail sales came in unchanged in September on a monthly basis and posted a 3.4% rise when measured year-on-year, while analysts had forecast gains of 0.4% and 4.1%.
Third-quarter GDP for Spain revealed a 0.8% expansion, a small slowdown from 1% growth in the second quarter. On an annual basis, the Spanish economy expanded 3.4%.
Over the past few months, some sharp falls in unemployment numbers across Europe have been observed. Italian unemployment was over 13% at the beginning of this year, while EU unemployment was at 11.5%. Both measures have seen significant drops in the last few months with Italian unemployment for September set to come in at 11.9%, unchanged from August, with EU unemployment set to come in at 11%.
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Yesterday the EURUSD initially fell but found yet again enough support at 1.0900 daily support to reverse and closed in the green near the high of the day with a narrow range, creating an inside day.
The key levels to watch are 1.1097 (Resistance), the 200-day moving average at 1.1082 (resistance), 1.0900 (support) and 1.0819 (Support).
EUR/USD: Euro Enhances Rebound as Traders Eye Inflation Data The euro currency extended its two-day rebound on Friday, moving higher from its lowest level since the beginning of August at $1.0894, where the Federal Reserve's (Fed) more-hawkish-than-expected statement had sent the EUR/USD pair on October 28.
However, the medium-term outlook remained unfavorable for the euro, as the odds of a December rate hike by the Fed increased to 50 percent, from approximately 30 percent earlier this week. Moreover, the majority of market participants anticipate further monetary easing by the European Central Bank (ECB) at its upcoming meeting.
''With the ECB likely to ease at its December meeting, 2015 could yet bring true central bank divergence. We expect around a 20 percent trade-weighted appreciation in the dollar through to end-2017," Goldman Sachs analysts wrote in a note earlier.
On Friday, the EUR/USD was trading with a gain of 0.50% at $1.1030, climbing from an intraday low at $1.0966, while the US dollar index gave up 0.39% to 96.99, stepping down from the two-month high at 97.89 seen on Wednesday.
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EUR/USD failed to break the week's high 1.1070 and rebounded again to 1.1000 if price closed under support level I am going short next week.
I see that the 1.1000 level will be the limit for the EUR/USD after the last fell, Strong sell in the market.
EUR/USD forecast for the week of November 2, 2015 The EUR/USD pair went back and forth during the course of the week, ending up forming a hammer based upon the uptrend line that formed the bottom of the ascending triangle. Because of this, we feel that the market should continue to go higher if we can break above the top of the hammer, as the market will reach towards the 1.15 handle. We have no interest in selling until we break down below the uptrend line, which is essentially the same thing as the bottom of the hammer for this previous week.
source
European Economics Preview: Eurozone Final PMI Data Due Final manufacturing Purchasing Managers' survey results from euro area are due on Monday, headlining a light day for the European economic news.
At 2.30 am ET, Sweden's manufacturing PMI for October is due. The index reading was 53.3 in September.
At 3.00 am ET, PMI reports are due from Hungary, Norway and Poland. Poland's PMI is seen rising to 51.5 in October from 50.9 in September.
At 3.15 am ET, retail sales from Switzerland and manufacturing PMI from Spain are due. Spain's indicator is seen at 51.8 in October versus 51.7 a month ago.
At 3.45 am ET, Markit releases Italy's manufacturing PMI. Thereafter final PMI data is due from France and Germany. The French final PMI is forecast to match the flash score of 50.7 in October.
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EUR/USD: Euro Eases Gains After Mixed PMI The shared European currency eased from its earlier highs after final PMI data from euro zone economies came out mixed.
The euro spiked to $1.1050 during the pre-market hours, but eased somewhat lower following a fresh batch of final PMI release. The euro was seen 0.23% higher at $1.1026 after the data.
Assembly lines in the German manufacturing sector eased slightly in the tenth month of the year. October's final PMI for Germany's manufacturing sector fell to 52.1, down from September's final reading of 52.3 points.
Italian factories accelerated their pace of growth in October this year and surprised on the upside, when the Italian manufacturing sector climbed up to 54.1 points in October, reaching a significant rise compared to the 52.7 points booked for September.
French manufacturing activity remained unchanged in October, the final manufacturing PMI in France came in at 50.6 same as in previous month.
The euro-dollar market disregarded the stance of European Central Bank (ECB) President Mario Draghi, who repeated his strong pro-QE position from Malta.
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On Friday session the EURUSD initially rallied with a wide range but found enough resistance to give most of its gains back to the market although managed to close in the green near the open of the day.
The key levels to watch are 1.1097 (Resistance), the 200-day moving average at 1.1086 (resistance) and 1.0900 (support).