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Euro higher in an uneventful European part of the session

Thursday, Jan 14 2016
Euro was pushed higher this morning though there were no major data releases. The index of selling prices in German wholesale trade was down 1.2% on an annual average in 2015 from the preceding year, as reported by the Federal Statistical Office (Destatis). Compared with December 2014, the index decreased by 1.0% in December 2015. In November 2015 the annual rate of change was –1.1% and in October 2015 it was –1.6%, respectively. Compared with November 2015 the index of wholesale prices fell by 0.8% in December 2015. 
 Separate report, showed that in November 2015 the seasonally adjusted Italian industrial production index decreased by 0.5% compared with the previous month. The percentage change of the average of the last three months with respect to the previous three months was +0.4. The calendar adjusted industrial production index increased by 0.9% compared with November 2014 (calendar working days being 21 versus 20 days in November 2014). The unadjusted industrial production index increased by 4.2% compared with November 2014.
 
Euro is currently being traded around 1.0930 area. Pair is likely to find support around 1.0850 handle and resistance above 1.0970 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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