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Attachment 39386
- Last week’s video conference of members of the European Council to discuss the EU’s response to the Covid-19 outbreak again highlighted the slow pace and complexity of decision making by the bloc’s leaders.
- Combined with a crash in IHS Markit’s composite purchasing managers’index for the Eurozone in April to 13.5, by far its lowest reading since the survey began in mid-1998, it’s hard to see anything other than a further decline in the Euro.
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Attachment 39516
The European Central Bank will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the Euro a lift.
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Attachment 39573
The euro area unemployment rate increased in April as member countries implemented coronavirus, or Covid-19, containment measures, data from Eurostat showed Wednesday.
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Attachment 39774
Germany's investor confidence rebounded at record rate in June as lockdown restrictions imposed to slow the spread of the coronavirus were eased across Europe, survey data from the ifo institute showed on Wednesday.
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German inflation rose unexpectedly in June from a 45-month low, preliminary data from Destatis revealed Monday.
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Germany's economy shrank at a record pace in the second quarter, but recent indicators suggest activity increased significantly in recent weeks and the recovery is likely to continue in the second half of the year supported by the fiscal stimulus, Bundesbank said in its monthly report on Monday.
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Spain's unemployment rate increased for the second straight time as the lockdown to contain the spread of the coronavirus weighed heavily on the labor market, data from the statistical office INE showed Tuesday.
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Attachment 40295
Germany's economy shrank less than initially estimated in the second quarter but the pace of contraction was the sharpest on record as the coronavirus pandemic shattered spending, investment and trade, revised data from Destatis revealed Tuesday. Elsewhere, survey results from the ifo Institute showed that German business confidence improved for the fourth straight month in August.
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Attachment 40561
Eurozone consumer confidence rose improved more-than-expected in September to its highest level in six months, preliminary data from the European Commission showed on Tuesday.
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Following the resurgence of the coronavirus infection rates, the euro area private sector stagnated in September as faster growth in manufacturing was offset by a renewed downturn in the service sector, flash survey data from IHS Markit showed Wednesday. The composite output index declined to 50.1 in September from 51.9 in August. Economists had forecast the reading to drop to 51.7.
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European Central Bank policymakers saw the need for latitude in monetary policy to tackle the difficult economic situation as the outlook remains highly uncertain in the absence of a permanent cure for the coronavirus and political factors such as Brexit transition and US presidential election, minutes of the September policy meeting showed on Thursday.
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Attachment 41077
Following the relaxation of Covid-19 restrictions, the German economy rebounded at a faster than expected pace in the third quarter, offsetting a large part of the massive contraction in the second quarter, revised data from Destatis revealed on Tuesday. Gross domestic product grew 8.5 percent sequentially in the third quarter, reversing the 9.8 percent decline in the second quarter caused by the
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Attachment 41168
Eurozone producer prices continued to fall in October on weak energy prices, data from Eurostat revealed Wednesday.
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The European Central Bank has made clear that it does not want to see EUR/USD above the 1.20 mark, once seen as its ‘line in the sand’ for the pair. But it’s hard to see what it can do about it.
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Attachment 41408
Germany's unemployment declined unexpectedly in December despite the government tightening the coronavirus containment measures, data released by the Federal Labor Agency showed Tuesday. Another official data revealed that retail sales growth slowed less than expected in November driven by non-food sector retailing.
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Eurozone producer prices declined further in November, data from Eurostat showed on Wednesday.
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Attachment 41470
Germany's economy is set to expand this year on the back of export growth, but the biggest euro area economy will reach pre-crisis level only in the first half of next year, Federation of German Industries/BDI said Tuesday.
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Attachment 41795
German exports rose marginally in December, data from Destatis revealed on Tuesday.
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Attachment 41902
Eurozone consumer confidence improved slightly in February, after easing in the previous month, preliminary figures from the European Commission showed on Thursday.
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Attachment 41961
The German economy grew more than initially estimated in the fourth quarter, revised data from Destatis showed on Wednesday.
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Attachment 42627
Germany's consumer price inflation accelerated to its highest level in two years in April, preliminary data from Destatis showed Thursday.
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Attachment 42967
Germany's unemployment dropped more than expected in May, providing more evidence of a rebound in the biggest euro area economy.
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Attachment 42998
Germany's exports growth eased in April, data released by Destatis revealed on Wednesday.
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Attachment 43076
Eurozone consumer confidence strengthened for a fifth month in a row in June to its highest level since early 2018, preliminary data from the European Commission showed Tuesday.
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Attachment 43248
Germany's producer prices logged its fastest annual growth since 1982, data published by Destatis revealed on Tuesday.
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The euro area money supply grew at a slower pace in June and the credit to the private sector logged a steady expansion, data from the European Central Bank revealed on Tuesday.
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Attachment 43381
Germany consumer prices grew at the fastest pace in more than 27 years in July largely due to the low base of comparison, final data published by Destatis revealed on Wednesday.
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Attachment 44121
Eurozone private sector growth improved unexpectedly in November after slipping to a six-month low in October, flash survey data from IHS Markit showed on Tuesday. The composite output index rose to 55.8 in November from 54.2 in October. The reading was expected to fall to 53.2. By sector, services outperformed manufacturing for a third straight month.
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Attachment 44305
Eurozone's consumer confidence deteriorated for a third straight month to its weakest level since March, preliminary results of the monthly survey by the European Commission showed Tuesday.
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Attachment 44505
Euro maintains uptrend, EUR/GBP rallies continue to be faded.
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Attachment 44681
The euro area current account surplus declined in December, the European Central Bank said on Friday.
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Attachment 44783
Germany's retail sales growth accelerated notably in January, data published by Destatis revealed on Monday.
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Attachment 44822
The eurozone economy expanded at a slower pace in the fourth quarter, as initially estimated, due to the fall in household spending, revised data from Eurostat showed on Tuesday.
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Attachment 45260
Germany's consumer price inflation jumped To 7.3% to its highest level highest since 1981. The consumer price index rose 7.3 percent year-on-year, after a 5.1 percent increase in February, preliminary data from Destatis showed Wednesday. Economists had forecast a 6.3 percent inflation.
The chart (above) was made using Metatrader 5 with Simple BrainTrading Ichi trading system
(this trading system is attached to the post as zip archive).
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The Euro suffered punishing losses in the first quarter of 2022. The currency is on pace to shed almost 3 percent against an average of its major counterparts, marking the worst three-month performance in 7 years.
Attachment 45331
Daily price is on primary bearish market condition located below Ichimoku cloud by trying to break 1.0874 support level to below for the bearish trend to be continuing with 1.0805 as a nearest possible target. Alternatively, if the price bounces from 1.0805 level to above so we may see the ranging near and below Ichimoku cloud with 1.1184 daily bullish reversal target.
Conclusion: bearish ranging.
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The Euro suffered punishing losses in the first quarter of 2022. The currency is on pace to shed almost 3 percent against an average of its major counterparts, marking the worst three-month performance in 7 years. Taken together with losses in the second half of last year, the Euro is poised to give up nearly 4.5 percent over the course of nine months.
Attachment 45410
Daily/Weekly price is located far below 200 SMA in the bearish area of the chart: the price is trying to break the bearish triangle pattern by crossing 1.0805 support level to below for the strong primary bearish trend to be continuing and with 1.0757 nearest target to re-enter.
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Attachment 45435
Eurozone industrial production rose more than expected in February after falling in the previous month, data from Eurostat showed on Wednesday. Industrial output rose 0.7 percent month-on-month in February, reversing a 0.7 percent decrease in January, which was revised from a no change reading. Economists had forecast a monthly growth of 0.2 percent.
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Attachment 45505
The war and high inflation took German consumer confidence to a new historic low, survey results from the market research group GfK showed on Wednesday. The forward-looking consumer sentiment index declined more-than-expected to -26.5 in May from revised -15.7 in April. The expected score was -16.0. The score remained even below the previous record low.
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The euro continues to lag major central banks as far as rate hikes are concerned, leaving it vulnerable over the medium term despite warnings from ECB officials.
Attachment 45583
Daily price is located far below 200 SMA in the bearish aeea of the chart with the oversold market condition. The price is testing the bearish triangle pattern with 1.047 support level to below for the bearish trend to be continuing. Alternatively, the price will be on the secondary ranging with the primary bearish waiting for the direction of the strong trend to be started.
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The Euro stabilized last week as the European Central Bank signaled that it would raise its main interest rate by July. The economic calendar offers few meaningful data releases; speeches by ECB President Christine Lagarde will garner the most attention.
Attachment 45713
Daily price is located below Ichimoku cloud inside symmetric triangle pattern within 1.0349/1.0606 support/resistance levels waiting for direction of the strong bearish trend to be continuing or the secondary ranging to be started.
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