Tag: eur

Sweden Industrial Output Rises Slightly In November

Sweden’s industrial production expanded slightly in November, Statistics Sweden reported Tuesday.

Industrial output grew 0.1 percent in November from prior year, reversing a 0.5 percent drop in October. Production was forecast to remain stable.

Th…

تباطؤ التضخم بأسعار المستهلكين في الصين خلال ديسمبر

تباطأ التضخم بأسعار المستهلكين في الصين خلال ديسمبر/ كانون الأول للمرة الأولى في أربعة أشهر، لكن التضخم بأسعار المنتجين تسارعت وتيرته بشكل كبير. وقال المكتب الوطني للإحصاءات الثلاثاء، إن مؤشر أسعار المستهلكين ارتفع بنسبة 2.1% على أساس سنوي خلال ديسمبر/ كانون الأول مقارنة بارتفاع بلغ 2.3% خلال نوفمبر/ تشرين الثاني. وارتفع مؤشر أسعار المنتجين في […]

Daily analysis of major pairs for January 10, 2017

EUR/USD: This pair has been making attempts to go upwards. Price is now above the support line at 1.0550, targeting the resistance lines at 1.0600, 1.0650 and 1.0700. Since the middle of last week, the pair has gone upwards by 240 pips, and that could just be the beginning.

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USD/CHF: The pair has
generated a “sell” signal in the middle of last week. However, the sell
signal is valid only in the short term. The long-term sell signal can appear only when the psychological level at 1.0000 is breached to the downside. There
can be bearish movements in the short-term and the current rally in the market
is an indication of another short-term selling opportunity.

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GBP/USD: The cable went
down on Friday, and went further downwards on Monday. In fact, GBP pairs became weak across the board, while EUR/GBP goes up. There is a Bearish Confirmation Pattern on
the 4-hour chart, and further downwards movement is possible.

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USD/JPY: There is a ‘sell’
signal on this pair – as USD becomes weak. Price came down by 150 pips on Monday
and it could come down further today, targeting the demand levels at 115.50,
115.00 and 114.50. There could be some rallies this week, but they could turn
out to be opportunities to sell short.

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EUR/JPY: This cross pair
has been quite choppy and turbulent. Price has been going sideways for a long
time, but lately things have gone really unpredictable. It may be wise to
stay away from the market until there is a clear directional movement, which is
expected to happen this week or next.

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The material has been provided by InstaForex Company – www.instaforex.com

Dollar Index Likely to Climb to 115 on fED Rate Hike Prospects

The United States dollar index is likely to continue its post-Presidential election merriment even in 2017. We foresee that the dollar index (DXY) will jump above 107 by the first quarter and break April 2002 high of 115 by the end of next year.

Also,…

Norwegian Headline Inflation Remains unchanged in December, Core Rate Slows Downs

Norwegian headline inflation was unchanged in December from the previous month. The headline consumer price inflation came in at 3.5 percent year-on-year, the same as in November. This is below the Norges Bank’s projection of 3.9 percent and consensus expectation of 3.8 percent. On a sequential basis  consumer price index came in at -0.5 percent, as compared with 0.2 percent in the prior month.

Meanwhile, core inflation decelerated to 2.5 percent year-on-year in December from 2.6 percent in November, 0.4 percent below the central bank’s projection of 2.9 percent. Consensus expectations were for 2.8 percent.

The lower inflation was driven by food prices, which dropped as much as last year (2.9 percent) leaving the year-on-year rate unchanged. Moreover, the airfares dropped and subtracted 0.1 percentage point. There were certain changes up and down on other groups as well, noted Nordea Bank in a research report. The downtrend in the inflation indicates towards lower key policy rate from Norges Bank, noted DNB Markets in a research report.

“We will, however, get two more inflation figures before Norges Bank’s monetary policy meeting in March, and we believe inflation must disappoint a great deal more for Norges Bank to consider lowering rates”, added DNB Markets.

It seems that the drop in food prices is partially because of Christmas sale. Therefore food prices might increase again in January. The Norges Bank has also provided clear signs in December that it is not keen on lowering rates further because of increased debt and rising house prices that increases the risk of financial imbalances.

It appears that the decline in food prices is partly caused by Christmas sale. Thus, food prices may rise again in January. The central bank also gave clear signals in December that it is not keen on cutting rates further because of high debt and accelerating house prices that increase the risk of financial imbalances. We therefore stick to our view that Norges Bank is done cutting interest rates.

The material has been provided by InstaForex Company – www.instaforex.com