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16 Sep 2015
EUR/USD drops further on EMU CPI
FXStreet (Edinburgh) - The European currency is now depreciating further vs. the greenback, relegating EUR/USD to post fresh daily lows near 1.1230.
EUR/USD weaker on EMU inflation
The pair has intensified its downbeat momentum after consumer prices in Euroland have come in on the softer side during August. Headline consumer prices have risen at an annual pace of 0.1% during last month, below consensus for a 0.2% rise. In addition, Core prices – excluding food and energy costs – have followed suit, rising 0.9% on a yearly basis vs. 1.0% anticipated.
Next of relevance in the pair will be the inflation figures in the US economy, followed by the NAHB index and the TIC flows.
EUR/USD key levels
The pair is losing 0.27% at 1.1238 and a breach of 1.1171 (low Sep.10) would expose 1.1131 (low Sep.9) and finally 1.1089 (low Sep.4). On the upside, the next hurdle aligns at 1.1328 (high Sep.15) followed by 1.1374 (high Sep.14) ahead of 1.1498 (high Aug.23).
EUR/USD weaker on EMU inflation
The pair has intensified its downbeat momentum after consumer prices in Euroland have come in on the softer side during August. Headline consumer prices have risen at an annual pace of 0.1% during last month, below consensus for a 0.2% rise. In addition, Core prices – excluding food and energy costs – have followed suit, rising 0.9% on a yearly basis vs. 1.0% anticipated.
Next of relevance in the pair will be the inflation figures in the US economy, followed by the NAHB index and the TIC flows.
EUR/USD key levels
The pair is losing 0.27% at 1.1238 and a breach of 1.1171 (low Sep.10) would expose 1.1131 (low Sep.9) and finally 1.1089 (low Sep.4). On the upside, the next hurdle aligns at 1.1328 (high Sep.15) followed by 1.1374 (high Sep.14) ahead of 1.1498 (high Aug.23).