Forex: EUR/USD bounces to 1.3450

FXstreet.com (Barcelona) - After being strongly pressured ahead of the European session, printing its daily low at 1.3425 on the opening and regressing to that area via plunge post-EMU data, the EUR/USD bounced back to 1.3450, erasing most of the losses.

Italy released its wage inflation figures in December, pointing to a 0.1% monthly rise and an annualized increase from 1.6% to 1.7%. Italian Consumer Confidence dropped from 85.7 to 84.6 in January, despite the rising consensus to 86.0.

Earlier, EMU money supply eased from 3.8% to 3.3% (YoY) in December, instead of rising to 3.9%. The 3m basis registed a rise from 3.4% to 3.7%. Private Loans contracted -0.7% in December (YoY).

Mataf.net analysts point to resistances at 1.3480, 1.3505 and 1.3550. On the downside, supports might be found at 1.3440, 1.3410 and 1.3350.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS