FXstreet.com (Barcelona) - Having dropped as low as 1.2376 ahead of the European session, the EUR/USD jumped off to 1.2433 high for now, as it attempted to reach yesterday’s NY session high of 1.2430, ahead of Monday’s high of 1.2443.
Switzerland data was released during the European morning, but the EUR/CHF peg prevents the market from any big jitter on account of the figures. The unemployment rate remains at 2.7% as expected in July, and the CPI inflation report dropped less than expected on the month, by -0.5% in July vs -0.6% consensus. The annualized data improved from -1.1% to -0.7% (vs -0.8% consensus).
Italy’s industrial output was also released today, with a monthly drop of -1.4% (previous +0.8%) in July, and annualized drop from -6.7% (revised from 6-9%) to -8.2%.
“Scope remains for the move to the top of the short term channel at 1.2513, where ideally we will see failure”, wrote Commerzbank analyst Karen Jones, pointing to support at 1.2290/1.2325.
Switzerland data was released during the European morning, but the EUR/CHF peg prevents the market from any big jitter on account of the figures. The unemployment rate remains at 2.7% as expected in July, and the CPI inflation report dropped less than expected on the month, by -0.5% in July vs -0.6% consensus. The annualized data improved from -1.1% to -0.7% (vs -0.8% consensus).
Italy’s industrial output was also released today, with a monthly drop of -1.4% (previous +0.8%) in July, and annualized drop from -6.7% (revised from 6-9%) to -8.2%.
“Scope remains for the move to the top of the short term channel at 1.2513, where ideally we will see failure”, wrote Commerzbank analyst Karen Jones, pointing to support at 1.2290/1.2325.
