Euro little changed in steadier morning session

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Friday, Feb 06 2015

There were no major data releases from Eurozone this morning. Euro was little changed currently being traded around 1.1450 level. Earlier today German Industrial Production figures were released. In December 2014, production in industry was up by 0.1% from the previous month on a price, seasonally and working day adjusted basis, below expected increase by 0.4%. In November 2014, the corrected figure shows also an increase of 0.1% from October 2014.

After last week's decline due to ECB decision, euro managed to rebound this week as there is possibility of agreement in case of Greece debt. However, we believe that this incline is of a short-term basis only and there is still room for further downtrend.

Pair is likely to find support around 1.1350 and resistance near 1.15 handle. Later today, in the US session, NFP figures are scheduled for a release.

More in this category: « UK Trade Balance deficit rose to £10.2 billion NFP rose by 257,000 in January »

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