Euro testing 1.13 handle

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Friday, Sep 11 2015

From Eurozone, this morning only minor importance German WPI and Italian Industrial Production figures were released. The selling prices in wholesale trade in Germany decreased by 1.1% in August 2015 from the corresponding month of the preceding year. In July 2015 and in June 2015 the annual rates of change were –0.5%, each. From July 2015 to August 2015 the index fell by 0.8%. Analysts were forecasting 0.2% increase.

On the other hand, Italian Industrial Production beat market forecasts on 0.9% rise and inclined by 1.1%. Meanwhile, Germany's Schaeuble said large amounts of liquidity can lead to price bubbles. He said that monetary policy can not resolve global risks and that EU reforms are slowly leading to economic recovery.

Euro is currently being traded few points above 1.1280 level. Pair is likely to find support around 1.1230 area and resistance above 1.1330 area. Later today, in the US session, PPI and Consumer Sentiment figures are scheduled for a release.

More in this category: « Gold prices slightly up in the Asian session Output in UK construction industry unexpectedly fell in July »

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