The euro "regained consciousness"
23.10.2014
The main currency pair is still falling - no matter how much we wanted to believe in a temporary euphoria, there are still no reasons for the growth in the instrument.
The Eurocurrency is falling, and this is its normal state. Almost weekly rebounds and trades under the bar in the range of 1.28 were just a pause in a series of sales.
Yesterday the euro has sharply weakened. Another option was difficult to expect: rumours that emerged about the results of stress tests of European banks are unlikely to carry anything really positive for the region. On the market it is actively discussed that at least 11 financial institutions from 130 banks that underwent stress tests, have failed them. There is no objective information on this subject, but investors say that it may be well-known banks from Greece and Italy.
The official results of stress tests will be published by the ECB only on October 26th.
Data on American inflation showed a slight increase in the index in September. The consumer price index, seasonally adjusted, rose by 0.1% m/m with the expectation of zero. Y/Y inflation in the United States is estimated at 1.7%. Yes, it still remains below the target threshold of 2%, but that's okay - at least the figure looks healthier than in the euro zone.
Today will be a lot of statistics and data, in the second half of the day increased volatility in the market can not be ruled out.
RoboForex Analytical Department
The Eurocurrency is falling, and this is its normal state. Almost weekly rebounds and trades under the bar in the range of 1.28 were just a pause in a series of sales.
Yesterday the euro has sharply weakened. Another option was difficult to expect: rumours that emerged about the results of stress tests of European banks are unlikely to carry anything really positive for the region. On the market it is actively discussed that at least 11 financial institutions from 130 banks that underwent stress tests, have failed them. There is no objective information on this subject, but investors say that it may be well-known banks from Greece and Italy.
The official results of stress tests will be published by the ECB only on October 26th.
Data on American inflation showed a slight increase in the index in September. The consumer price index, seasonally adjusted, rose by 0.1% m/m with the expectation of zero. Y/Y inflation in the United States is estimated at 1.7%. Yes, it still remains below the target threshold of 2%, but that's okay - at least the figure looks healthier than in the euro zone.
Today will be a lot of statistics and data, in the second half of the day increased volatility in the market can not be ruled out.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.