FXstreet.com (Barcelona) - While the European equities trade weaker on Friday, exceptions made for the Greek ATHEX and the Spanish IBEX 35 boosted by IMF's Lagarde comments, the EUR/USD is edging higher after the rally to 1.2985 high seen on the European opening. The pair has been consolidating just below that price, ranging at 1.2960/80 as the Italian CPI data and the Eurozone industrial production were released.
After the big headline coming from the annual IMF/World Bank meetings, with IMF's Lagarde calling for less austerity and more time for the peripheral Eurozone countries, the Norwegian Nobel Commitee awarded the European Union with the Nobel Peace Prize for transforming Europe “from a continent of wars to a continent of peace”, said Chairman Thorbjoern Jagland.
The EUR/USD is now trading ahead of US September PPI and the preliminary Reuters/Michigan Consumer Sentiment for October. Having bounced from the 200-day moving average, at 1.2825, the rebound has managed to neutralize the technical indicators, but Commerzbank analysts expect an eventual drop: “We continue to look for rallies to remain tepid and remain capped by 1.3072”, wrote analyst Karen Jones.
After the big headline coming from the annual IMF/World Bank meetings, with IMF's Lagarde calling for less austerity and more time for the peripheral Eurozone countries, the Norwegian Nobel Commitee awarded the European Union with the Nobel Peace Prize for transforming Europe “from a continent of wars to a continent of peace”, said Chairman Thorbjoern Jagland.
The EUR/USD is now trading ahead of US September PPI and the preliminary Reuters/Michigan Consumer Sentiment for October. Having bounced from the 200-day moving average, at 1.2825, the rebound has managed to neutralize the technical indicators, but Commerzbank analysts expect an eventual drop: “We continue to look for rallies to remain tepid and remain capped by 1.3072”, wrote analyst Karen Jones.
