EUR News

Germany's producer price inflation eased in October, in line with expectations, data from Destatis showed Monday.

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Growth in Eurozone export volumes may accelerate in the coming months despite the appreciation of the euro this year, Jack Allen, an economist at Capital Economics, said.

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Eurozone's economic recovery remains strong, but inflation is yet to show a sustained upward trend, and the European Central Bank's decision in October to reduce the size of asset purchases and continue them for another nine months will ensure that the economy is supported by the right amount of monetary stimulus, ECB President Mario Draghi said Monday.

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Germany expanded at a faster pace in the third quarter on robust foreign demand and investment amid weak private consumption, official data showed Thursday. Despite political uncertainty, private sector activity growth in the largest euro area economy accelerated in November driven by a pick-up in manufacturing, a closely watched survey revealed today.

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Euro zone consumers still prefer cash to other options for paying for their purchases, though numerous survey have suggested that a cashless society is imminent, results of a study by the European Central Bank showed Friday.

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Fake statistics are equally threatening to the euro area economy as fake news is to politics, European Central Bank Executive Board member Benoit Coeure said Friday.

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EURUSD extended its upside movement from 1.1554 to as high as 1.1944, breaking above 1.1879 key resistance, confirming that the downside movement from 1.2092 (Sep 8 high) had completed at 1.1554 already. Near term support is at the bullish trend line on the 4-hour chart. As long as the price is above the trend line, the upside movement from 1.1554 could be expected to continue and next target would be at 1.2000, followed by 1.2092. On the downside, a breakdown below the trend line support could bring price back to next support level at 1.1712. Below this level could trigger further downside movement towards 1.1554 previous low, followed by the resistance-turned-support trend line on the weekly chart now at around 1.1390.

German consumer confidence is set to remain unchanged at the end of the year after two consecutive declines, on strong economic expectations, though it is yet to be known whether the failed coalitions talks would hurt the sentiment, results of the latest survey by GfK showed Tuesday.

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EURUSD’s fall from 1.1961 extended to as low as 1.1827. However, as long as the price is above the bullish trend line on the 4-hour chart, the fall could be treated as consolidation of the uptrend from 1.1554, and another rise towards 1.2092 (Sep 8 high) previous high is still possible after the consolidation. On the downside, a breakdown below the trend line support will indicate that the uptrend had completed at 1.1961 already, then the pair would find next support at 1.1712. Below this level could trigger further decline towards 1.1554, followed by the resistance-turned-support trend line on the weekly chart now at around 1.1390.

Germany's inflation accelerated for the first time in three months in November and exceeded economists' expectations, preliminary data from Destatis showed on Wednesday.

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