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[HFblogNews]

Date : 08 July 2014

EURUSD TRADING LOWER AFTER THE SMALL GAINS YESTERDAY.

EURUSD rose yesterday and closed at 1.3603. The Sentix Investors Confidence in the Eurozone rose unexpectedly to a reading of 10.1 in July. On the other hand the German Industrial Production dropped 1.8 percent in May. Yesterday the German Finance Minister Wolfgang Schauble stated that the Eurozone needs structural reforms to fuel the growth in the single currency bloc.






Investors are looking for the outcome of the ECOFIN Meetings taking place Brussels today.

Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3638.







Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 09 July 2014

EURUSD FLIRTING WITH THE 1.36 LEVEL AHEAD OF THE FOMC MEETING MINUTES.

EURUSD rose yesterday and closed at 1.3611. An official report released yesterday indicated that the German Trade Balance widened to 18.8B in May. The head of Bank of Spain and ECB Governing Council member Luis Maria Linde cautioned yesterday that the inflation rate in the Eurozone will remain below the 2 percent target for a prolonged period of time and the possibility of deflation still exists. In the United States the President of the Minneapolis Fed Narayana Kocherlakota stated that the inflation in the US will remain below the 2 percent for more years. On the other hand the Richmond Fed President Jeffrey Lacker stated that the inflation rate is moving towards its target with the moderate economic growth witnessed lately in the largest economy in the world.







Investors are now awaiting the outcome of the FOMC Meeting Minutes and the speech of the President of the European Central Bank Mario Draghi in London.

Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3638.





Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 10 July 2014

EURUSD LOSING ITS YESTERDAYS GAINS DURING THE EUROPEAN SESSION. US UNEMPLOYMENT CLAIMS ON TAP.

EURUSD rose yesterday and closed at 1.3640. The United States dollar lost strength against its European counterpart after the FOMC Meeting Minutes failed to give a clear outlook of when Fed is planning to rise the interest rates in the largest economy of the world. On the other side the minutes revealed that the US Central bank is planning to end its QE program by October if the economy shows signs of recovery during the 2nd quarter of 2014. The President of the European Central Bank Mario Draghi stated during his speech in London that the risks to price stability in the Eurozone still persists and also reiterated his concerns on the strength of the single European currency.









Investors are now looking forward for the Unemployment Claims due from the United States.

Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3647.





Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 14 July 2014

EURUSD PUSHED HIGHER IN THE EUROPEAN SESSION. ECB PRESIDENT DRAGHI SPEAKS IN STRASBOURG TODAY.

EURUSD dropped on Friday and closed at 1.3604. Worries over the troubles in the European banking system pushed the Euro lower. The Prime Minister of Portugal Pedro Passos Coelho assured that the tranquility of the financial and banking system in the country will be well maintained and that the government would not have to intervene and bailout Banco Esprito Santo.

Over the weekend the Bundesbank President Jens Weidmann called for an earliest as possible tightening of the ECB’s monetary policy as the current interest rates of the European Central Bank are too low for Germany.





A release today indicated that the Industrial Production in the Eurozone dropped to a reading of -1.1 percent in May. Investors are now looking forward for the speech of the President of the European Central Bank Mario Draghi in Strasbourg.

Support for the EURUSD is seen at 1.3590 and resistance is seen at 1.3647.





Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 16 July 2014

EURUSD CONTINUES TO MOVE TOWARDS THE 1.35 LEVEL AFTER YESTERDAY’S SHARP DROP.

EURUSD dropped yesterday and closed at 1.3568. The German ZEW Economic Sentiment slipped for a 7-th consecutive month coming at a reading of 27.1 in July. The United States dollar received support from the Fed Chief Janet Yellen during her testimony to the Congress. Yellen mentioned that the US central bank will increase the interest rates sooner than expected if the labour conditions accelerate in faster pace. She also stated that the recovery in the largest economy in the world is not fully completed despite the few indicators pointing for a continued improvement. Data released yesterday indicated that the Empire State Manufacturing Index rose to a four-year high level of 25.6 in July. On the other hand the Retails Sales in the US rose less than expected coming at a reading of 0.2 percent.




Investors are now looking forward for the Producer Price Index data and the second testimony of the Fed Chief Janet Yellen before the House Financial Services Committee in Washington DC.

Support for the EURUSD is seen at 1.3523 and resistance is seen at 1.3594.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 17 July 2014

EURUSD CONTINUES TO TRADE NEAR THE LOWS AHEAD OF THE US UNEMPLOYMENT CLAIMS REPORT.

EURUSD dropped yesterday and closed at 1.3524. In the 2nd day of her testimony the Fed Chief Janet Yellen continued to support the US dollar. She convinced the lawmakers that Fed would start raising interest rates earlier and faster than expected once the inflation and employment conditions improve. The housing market in the United States jumped to a six-month high level of 53 in July. The Producer Price Index rose 0.4 percent month over month in June. The Fed’s Beige Book survey revealed that the economy in the US grew in all regions in June and early July.




Data released today indicated that the inflation in the Eurozone remained at 0.5 percent on an annual basis in June. Investors are now looking forward for the Building Permits, Unemployment Claims and the Philly Fed Manufacturing Index due from the United States.

Support for the EURUSD is seen at 1.3523 and resistance is seen at 1.3594.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 18th July 2014

EURUSD TRADING NEAR THE LOWS AHEAD OF THE UNIVERSITY OF MICHIGAN CONSUMER SENTIMENT DATA.

EURUSD traded sideways yesterday and closed at 1.3525. Data released yesterday indicated that the inflation in the Eurozone remained below the 2 percent target of the European Central Bank coming at 0.5 percent on an annual basis in June. The single European currency was also pressurized after the reported plane crash in Ukraine which waned the risk appetite among the investors. The Unemployment Claims in the United States unexpectedly fell during the last week to a reading of 302K. The St. Louis Fed President James Bullard opined that the economic situation in the United States is normalizing and the central bank may act sooner than expected.




Investors are now looking forward for University of Michigan Consumer Sentiment release due from the United States.

Support for the EURUSD is seen at 1.3516 and resistance is seen at 1.3572.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 22nd July 2014

EURUSD TRADING NEAR THE LOWS AHEAD OF THE UNIVERSITY OF MICHIGAN CONSUMER SENTIMENT DATA.

EURUSD dropped yesterday and closed at 1.3523. The Bundesbank revealed in its monthly report that the largest economy in the Eurozone most probably slowed its growth in the 2nd quarter of 2014. On the other hand the International Monetary Fund upgraded its growth forecast for the German economy to 1.9 percent from the previous 1.7 percent estimate.

Investors are looking forward for the Core CPI month over month release and the New Home Sales data due from the United States.





Support for the EURUSD is seen at 1.3504 and resistance is seen at 1.3572.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 23rd July 2014

EURUSD PRINTED NEW LOWS AFTER THE US INFLATION DATA RELEASED YESTERDAY.

EURUSD dropped yesterday and closed at 1.3464. Data released from the US Bureau of Labor Statistics indicated that the consumer price index in the United States registered a rise of 2.1 percent on an annual basis. The housing market data was also positive indicating a rise of the Existing Home Sales to 5.04 million units in June. The House Price Index in the largest economy in the world rose 0.4 percent in May. The Richmond Fed Manufacturing Index registered a rise to a level of 7 in July. The US dollar gained ground from the upbeat economic data suggesting that the United States Federal Reserve may hike its interest rates sooner than expected.







Support for the EURUSD is seen at 1.3453 and resistance is seen at 1.3542.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 24th July 2014

EURUSD LOSING SOME OF ITS EARLIER GAINS AFTER THE US UNEMPLOYMENT CLAIMS DROPPED TO A 8-YEAR LOW LEVEL DURING THE LAST WEEK.

EURUSD dropped yesterday and closed at 1.3462. Earlier today the single European currency was boosted after positive PMI data from Europe and rebounded from the lows. The German Flash Manufacturing PMI rose to a reading of 52.9 in July. The German Flash Services PMI also rose in July reaching 56.6. The single European currency started to lose some of its steam after the better than expected Unemployment Claims data released from the United States in the afternoon. The Unemployment Claims dropped to a 8-year low level of 284K during the last week.



Investors are now looking forward for the New Home Sales data due from the United States.

Support for the EURUSD is seen at 1.3453 and resistance is seen at 1.3542.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 25th July 2014

EURUSD TRADING LOWER AFTER WORSE THAN EXPECTED GERMAN IFO BUSINESS CLIMATE DATA.

EURUSD traded sideways yesterday and closed at 1.3463. Data released yesterday indicated that German Flash Manufacturing PMI rose to a reading of 52.9 in July. Initially the single European currency gained against its US counterpart, but after better than expected jobless claims report and the potential new sanctions against Russia the Euro lost ground. Data released from the United States indicated that the Unemployment Claims dropped unexpectedly 19,000 to a reading of 284K during the last week.




Data released today showed that the German Ifo Business Climate dropped to a level of 108.0 in July. Investors are now looking forward for the Core Durable Goods Orders data due from the United States.

Support for the EURUSD is seen at 1.3440 and resistance is seen at 1.3505.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 28th July 2014

EURUSD TRADING NEAR THE 1.34 MARK IN THE EUROPEAN SESSION. US FUNDAMENTALS WILL DRIVE THE FX MARKET IN THE WEEK AHEAD.

EURUSD dropped on Frirday and closed at 1.3429. The business sentiment in Germany dropped for a third consecutive month to a reading of 108.0 in July. The European revealed in its monthly report that the private sector lending in the Eurozone fell 1.7 percent on an annual basis. The single European currency was also pressurized after the EU increased its blacklist Russian who are subject of sanctions. The ECB Vice President Vitor Constancio downplayed the speculations of different sources for potential new measures in the near term taken by the central bank against the low inflation. Data from the United States also boosted the US dollar. The Core Durable goods orders rose 0.7 percent on a monthly basis in June.




The week ahead will be driven mostly by the US fundamentals. The Pending Homes month over month release is due later today. On Wednesday we have the ADP Non-Farm Employment Change, the FOMC Statement and the Advance GDP data for the second quarter of 2014 due on the calendar. The top fundamental event on Friday will be the Non-Farm Payrolls release.

Support for the EURUSD is seen at 1.3424 and resistance is seen at 1.3485.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 30th July 2014

EURUSD IS UNDER PRESSURE AHEAD OF THE ADP NON-FARM EMPLOYMENT CHANGE AND THE ADVANCE GDP DATA FROM THE US.

EURUSD dropped yesterday and closed at 1.3407. The US dollar was boosted by the CB Consumer Confidence release which indicated that the consumer confidence in the United States rose to a 7 year high reading of 90.9 in July. Data from Germany indicated that the import prices rose less than expected in June recording a 0.2 percent rise. The ECB Governing Council Member and Bundesbank President Jens Weidmann welcomed a strong rise in the wages in Germany.



Data released today indicated that the Spanish Flash Consumer Price Index dropped to a level of -0.3 percent on an annual basis in July.

Investors are now looking forward for the ADP Non-Farm Employment Change Report and the Advance GDP data for the second quarter of 2014 from the United States. Later today the FOMC Monetary Policy Statement is due from the US.

Support for the EURUSD is seen at 1.3396 and resistance is seen at 1.3485.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 1st August 2014

EURUSD TRADING ABOVE 1.3400 AFTER THE US NON-FARM PAYROLLS RELEASE.

EURUSD dropped yesterday and closed at 1.3389. The inflation in the Eurozone continued to fall reaching its lowest level in almost 5 years coming at a reading of 0.4 percent in July. On the other side the Unemployment Level in the Eurozone declined to 11.5 percent from its previous 11.6 percent level. The Unemployment Claims release came out in line with the market expectations at a reading of 302K during the last week.



The key even of the way was the US Non-Farm Payrolls and Unemployment Level releases which were both released today. The US Non-Farm Employment Change came our worse than the market expectations at a reading of 209K. The Unemployment Rate in the US rose to a level of 6.2 percent. Following the releases the US dollar lost ground against most of its counterparts and EURUSD is currently trading above the 1.3400 mark.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 4th August 2014

LOW VOLATILITY AT THE START OF THE WEEK. ECB PRESS CONFERENCE AND MINIMUM BID RATE ON FOCUS THIS WEEK.

EURUSD rose on Friday and closed at 1.3430. The US dollar lost some of its gains against its European counterpart after the Unemployment Rate in the United States unexpectedly rose to 6.2 percent from 6.1 percent during the previous month. The US Non-Farm Payrolls also rose less than expected to a reading of 209K. In the Eurozone the Manufacturing PMI in Germany recorded a drop to a reading of 52.9.





Data released today indicated that the Sentix Investor Confidence in the Eurozone dropped to a level of 2.7 in August from the previous 10.1 level in July.

The main economic events of the week will be the ECB Press Conference and Minimum Bid Rate decision. Both are due to be delivered on Thursday.

Investors are now looking forward for the ISM Non-Manufacturing PMI due from the United States tomorrow.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 5th August 2014

EURUSD FLIRTING WITH THE 1.3400 LEVEL IN THE FIRST HALF OF THE EUROPEAN SESSION.

EURUSD dropped yesterday and closed at 1.3421. The Sentix Investor Confidence in the Eurozone dropped sharply to a reading of 2.7 in August marking its lowest level in 12 months. Data from Spain revealed that the unemployment level in the country dropped by 29.8K in July.

Data released from the Eurozone today indicated that the Final Services Purchasing Managers Index in the Eurozone remained steady in July coming at a reading of 54.2. Another report indicated that the Retail Sales in the EU expanded by 0.4 percent in June.



Investors are now looking forward for the ISM Non-Manufacturing Purchasing Managers Index release due from the United States.

Support for the EURUSD is seen at 1.3370 and resistance is seen at 1.3442.




Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 6th August 2014

EURUSD PRINTED NEW LOWS IN THE EUROPEAN SESSION ON POOR DATA FROM THE EUROZONE.

EURUSD dropped yesterday and closed at 1.3375. The Final Services PMI in the Eurozone expanded to a reading of 54.2 in July. The Spanish and Italian Services Purchasing Managers Indexes also expanded, but the report from the Italy was disappointing. The Retails Sales month over month came out in line with the market expectations at a reading of 0.4 percent in June. Data from the United States revealed that the ISM Non-Manufacturing Index rose to an eight year high level of 58.7 in July. The Factory Orders in the States also jumped recording a gain of 1.1 percent in June.



Data released today indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. This combined with the poor preliminary GDP report from Italy which dropped to a reading of -0.2 percent sent to the Euro lower and the pair is currently trading near the 1.3340 level.

Investors are now looking forward for the Trade Balance data due from the United States.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 7th August 2014

EURUSD TAKING A BREATHER AHEAD OF THE ECB INTEREST RATE DECISION IN PRESS CONFERENCE.

EURUSD rose yesterday and closed at 1.3381. Data released from the Eurozone indicated that the German Factory Orders dropped to a reading of -3.2 percent in June. Another report showed that the GDP in the third-largest economy in the Eurozone – Italy dropped to a reading of -0.2 percent in the second quarter of 2014.



Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

Investors are now looking forward for the ECB Interest Rate decision and the ECB Press Conference due today. At the start of the ECB Press Conference the Unemployment Claims report from the United States is due to be released.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 8th August 2014

EURUSD TRADING HIGHER ON FRIDAY AFTER THE SHARP DROP YESTERDAY.

EURUSD dropped yesterday and closed at 1.3362. The President of the European Central Bank Mario Draghi expressed his concerns about the sanctions against Russia stating that they could worsen the outlook for the economy of the Eurozone. Yesterday the ECB kept its interest rates unchanged at 0.15 percent. The central bank also left its deposit rate unchanged at -0.1 percent. Data released from the United States indicated that the Unemployment Claims dropped to a 8-year low level of 289K during the last week.



The US President Barack Obama has authorized air-strikes in Iraq to protect the American personnel.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3413.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 11th August 2014

EURUSD TRADING BELOW THE 1.3400 LEVEL ON MONDAY. LIGHT ECONOMIC CALENDAR TODAY..

EURUSD rose on Friday and closed at 1.3410. Data from the United States indicated that the Non-Farm Productivity in the largest economy in the world rose 2.5 percent in the second quarter of 2014. The Wholesale Inventories in the US rose 0.3 percent in June. The Industrial output in France recorded a gain of 1.6 percent in June. The German Trade Surplus dropped to 16.3 billion Euro in June.



The Economic Calendar for the rest of the session is very light and we don’t expect much volatility on the market. Investors should be fully aware that potential high-impact data that’s not scheduled to be released may bring higher market volatility.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3410.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 13th August 2014

EURUSD PUSHED ABOVE THE 1.3400 LEVEL AFTER WORSE THAN EXPECTED RETAIL SALES DATA FROM THE UNITED STATES.

EURUSD dropped yesterday and closed at 1.3368. Data released yesterday indicated that the ZEW Economic Sentiment dropped sharply to a reading of 23.7 in July. Additionally the ZEW Economic Sentiment in Germany also recorded a sharp drop to a reading of 8.6 from the previous reading 27.1 a month earlier. In the United States the Job Openings hit a 13 year high coming at 4.67 million jobs in June.



Data released today indicated that the inflation in Germany and France remains weaker. The Industrial Production in the Eurozone fell to a reading of 0.3 percent in June.

The Euro rose sharply today after the worse than expected retail sales data from the United States and its currently trading above the 1.3400 mark.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 14th August 2014

EURUSD HOLDING BELOW THE 1.3400 LEVEL AFTER POOR GDP REPORTS FROM THE FRANCE AND GERMANY.

EURUSD dropped yesterday and closed at 1.3363. The Industrial Production in the Eurozone dropped to a reading of -0.3 percent in June. Data from the United States revealed that the Retails Sales in the US dropped in July coming at a reading of 0.0 percent making its lowest level since January 2014.




Data from the United States indicated that the trade deficit in the largest economy in the world fell to 41.5 billion in June. The President of the United States Federal Reserve in Atlanta Dennis Lockhart stated yesterday that he sees the first interest rate hike in the middle of 2015 or later.

Data released today indicated that the German Preliminary GDP report for the second quarter of 2014 came out worse than the market expectations at a reading of -0.2 percent. The Preliminary GDP report from France also came worse than expected at a reading of 0.0 percent. The Eurozone’s Flash GDP dropped to 0.0 percent in the second quarter of 2014.

Data from the United States showed that the Unemployment Claims during the last week came out closer to the market expectation at a reading of 311K.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.





Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 15th August 2014

EURUSD HOLDING LOWER AFTER WORSE THAN EXPECTED SECOND QUARTER FLASH GDP DATA.

EURUSD dropped yesterday and closed at 1.3364. The German GDP in the second quarter of 2014 drooped to a reading of -0.2 percent. The Flash Gross Domestic Product in the Eurozone dropped to a reading of 0.0 percent in the second quarter of the year. Market had expected a drop to a level of 0.1 percent. Data from the United States indicated that the Unemployment Claims rose slightly to a reading of 311K during the last week.



With the French and Italian bank holidays due to the observance of the Assumption Day today we are expecting the pair to be mostly driven by the US data due on the Economic Calendar. Investors are looking forward for the Producer Price Index and the Preliminary University of Michigan Consumer Sentiment releases due later today from the United States.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 18th August 2014

EURUSD TRADING SIDEWAYS IN THE EUROPEAN SESSION. LIGHT ECONOMIC CALENDAR TODAY..

EURUSD rose on Friday and closed at 1.3398. The Michigan Consumer sentiment in the United States dropped to a reading of 79.2 in August marking its lowest level in 9 months. On the other hand the manufacturing output in the largest economy in the world rose 1.0 percent in July. That was the biggest rise since February.



The session ahead will light on scheduled economic events, but any potential market comments may bring volatility on the market. Investors are focus on the scheduled for tomorrow US headlines including the Consumer Price Index, the Core CPI and the Building Permits releases.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HFblogNews]

Date : 19th August 2014

EURUSD PRINTING NEW LOWS AHEAD OF THE US CPI AND BUILDING PERMITS DATA.

EURUSD dropped yesterday and closed at 1.3362. Bundesbank warned yesterday that the economy in Germany could struggle to regain momentum due to the negative outlook for the European economy. The Trade Balance in the Eurozone failed to meet the market expectation coming at a reading of 13.8B in June. Data from the United States revealed that the NAHB Housing Market Index rose to a reading of 55 in August marking its highest output in 7 months.



Data released today indicated the Current Account in the Eurozone dropped to 13.1B in June, market had expected a drop to 19.3B.

Investors are now looking forward for the CPI m/m , the Building Permits and the Core CPI m/m releases due from the United States.

Support for the EURUSD is seen at 1.3336 and resistance is seen at 1.3416.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.