EUR/USD is flat in the Thursday session. Currently, the pair is trading at 1.1286, down 0.01% on the day. On the release front, German Final CPI came in at 0.2%, matching the forecast. Eurozone industrial production declined 0.5%, weaker than the estimate of -0.4%. In the U.S., unemployment claims is expected to dip to 215 thousand. On Friday, the U.S. releases retail sales reports and UoM consumer sentiment.

German and eurozone numbers disappointed on Thursday, but the euro shrugged off the weak numbers. German Final CPI came in at 0.2%, unrevised from the initial reading. Still, this gain was much smaller than the April gain of 1.0%. Eurozone industrial production continues to struggle, posting a third consecutive decline. The ongoing contraction reflects significant weakness in the manufacturing sector, which has been hit hard by global trade tensions, which have lessened demand for German and eurozone exports.

In the U.S., the focus was on consumer inflation indicators for May. CPI slowed to 0.1%, down from 0.3% in the previous release. This matched the estimate. The core reading posted a gain of 0.1% for a fourth straight month, shy of the forecast of 0.2%. With the May inflation numbers remaining low, there could be more pressure on the Fed to lower interest rates in order to boost economic activity and inflation. The likelihood of further rates this year is increasing – the CME Group has set the odds of a July cut at 66% and another cut in September at 50%. Lower interest rates makes the U.S. dollar less attractive to investors, so investors will be keeping an eye at alternative assets.

Aussie drops on stubborn unemployment

 

EUR/USD Fundamentals

Thursday (June 13)

  • 2:00 German Final CPI. Estimate 0.2%. Actual 0.2%

  • 4:00 Italian Quarterly Unemployment Rate. Estimate 10.4%. Actual 10.4%

  • 5:00 Eurozone Industrial Production. Estimate -0.4%. Actual -0.5%

  • All Day – Eurogroup Meetings

  • 8:30 US Import Prices. Estimate -0.3%

  • 8:30 US Unemployment Claims. Estimate 215K

  • 10:30 US Natural Gas Storage

  • 13:01 US 30-year Bond Auction

Friday (June 14)

  • 8:30 US Core Retail Sales. Estimate 0.5%

  • 8:30 US Retail Sales. Estimate 0.7%

  • 10:00 US Preliminary UoM Consumer Sentiment. Estimate 98.1

EURUSD

 

Open: 1.1288 High: 1.1304 Low: 1.1286 Close: 1.1286

 

EUR/USD Technical

S1

S2

S1

R1

R2

R3

1.1046

1.1120

1.1212

1.1300

1.1434

1.1553


EUR/USD was flat for most of the Asian session and has edged lower in European trade

  • 1.1212 is providing support

  • 1.1300 was tested in resistance earlier on Thursday. It is a weak line

  • Current range: 1.1212 to 1.1300

Further levels in both directions:

  • Below: 1.1212, 1.1120 and 1.1046

  • Above: 1.1300, 1.1434, 1.1553 and 1.1621

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.

Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD under pressure under 1.1850 amid US election concern

EUR/USD is under some pressure below 1.1850 the anti-risk dollar is drawing haven bids on reports of meddling in US elections and fading prospects of an imminent US stimulus deal. US jobless claims are eyed.

EUR/USD News

GBP/USD drops below 1.31 amid negative rate talks

GBP/USD has slipped under 1.31 after BOE member Haldane reiterated the bank is studying negative rates. Earlier, the resumption of Brexit talks boosted the pound. Coronavirus measures and restrictions are eyed.

GBP/USD News

Gold off lows, still in the red around $1920 region

Gold traded with a mild negative bias through the early European session, albeit has managed to trim a part of its daily losses to the $1911-10 region.

Gold News

Forex Today: Foreign intervention in US elections weighs on mood, jobless claims, politics eyed

Concerns about foreign intervention in the US elections have weighed on the market mood, allowing the dollar to recover after Wednesday's losses. Intense Brexit talks resume in London, boosting the pound.

Read more

WTI: Buyers lurk around 100-day EMA

WTI bounces off $39.83, the lowest in one week, to battle 50% Fibonacci retracement. EIA inventories recovered from -3.818M prior, -1.021M forecast. The energy benchmark dropped the lowest since October 15 the previous day.

Oil News

Forex Majors

Cryptocurrencies

Signatures