Today’s moods in the markets after yesterday’s sale of Italian bonds are a bit calmer. Yesterday’s profitability of Italian 10-year olds to 3.35%, today drops below 3.0%, and the spread with German bunds narrows to 267 basis points. The turbulence on the Italian political scene is taking on a routine character, so the markets are going into a waiting mode: in the coming days, inflation and PMI for the Eurozone will be published.
The German unemployment rate has dropped from 5.3% to 5.3% and the unemployment change index (this indicator shows the number of unemployed people in Germany) dropped stronger than expected to -11k versus -10k people. The markets still await the German CPI data for the whole country that will be published at 02:00 pm GMT, but a look at the CPI growth in particular zones suggests that price indices have risen strongly. The monthly dynamics for all zones, for which data was published, reached 0.4-0.7%. So far the data are very encouraging and the Euro bulls will likely take the advantage of this situation.The turbulence on the Italian political scene is taking on a routine character, so the markets are going into a waiting mode: in the coming days, inflation and PMI for the Eurozone will be published.
Let’s now take a look at the EUR/USD technical picutre at the H1 time frame. After the job market data beat the expectations, the EUR/USD rate jumped towards the intraday resistance at the level of 1.1606 and broke it, so the next intraday target is seen at the level of 1.1644 – 1.1651 zone. The immediate support is seen at the level of 1.1580. Strong momentum and stochastic oscillator rising from the oversold levels support the temporary bullish outlook.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s moods in the markets after yesterday’s sale of Italian bonds are a bit calmer. Yesterday’s profitability of Italian 10-year olds to 3.35%, today drops below 3.0%, and the spread with German bunds narrows to 267 basis points. The turbulence on the Italian political scene is taking on a routine character, so the markets are going into a waiting mode: in the coming days, inflation and PMI for the Eurozone will be published.
The German unemployment rate has dropped from 5.3% to 5.3% and the unemployment change index (this indicator shows the number of unemployed people in Germany) dropped stronger than expected to -11k versus -10k people. The markets still await the German CPI data for the whole country that will be published at 02:00 pm GMT, but a look at the CPI growth in particular zones suggests that price indices have risen strongly. The monthly dynamics for all zones, for which data was published, reached 0.4-0.7%. So far the data are very encouraging and the Euro bulls will likely take the advantage of this situation.The turbulence on the Italian political scene is taking on a routine character, so the markets are going into a waiting mode: in the coming days, inflation and PMI for the Eurozone will be published.
Let’s now take a look at the EUR/USD technical picutre at the H1 time frame. After the job market data beat the expectations, the EUR/USD rate jumped towards the intraday resistance at the level of 1.1606 and broke it, so the next intraday target is seen at the level of 1.1644 – 1.1651 zone. The immediate support is seen at the level of 1.1580. Strong momentum and stochastic oscillator rising from the oversold levels support the temporary bullish outlook.
The material has been provided by InstaForex Company – www.instaforex.com
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