EUR/USD Daily Forecast – 10 December

There were no major data releases from Eurozone yesterday. ECB member Nowotny said that ECB decision last week was right. He said that Eurozone is significantly under inflation target, while US is in a different phase of growth cycle and must watch for side-effects like bubbles. He concluded that ECB will not let itself be influenced by markets. ECB's member Ardo Hansson said that inflation outlook and the economy were key factors in the ECB decision and that ECB measures will lower the yield curve. Hansson was on the list of those most likely to be against additional action.

EUR/USD Daily Forecast – 10 December

Though there were no major data releases yesterday, euro was pushed significantly higher, testing 1.10 handle as a resistance. This does not come as a surprise, as euro had potential for this incline ever since it broke higher last week. Now it is only question can pair break above this area which is important on long-term charts and continue higher with next major resistance at 1.12 handle. Read more...

ECB's Nowotny says ECB decision last week was right

EUR/USD Daily Forecast – 09 December

Yesterday, from Eurozone, only minor importance Revised GDP data was published. Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2015, compared with the previous quarter, according to a second estimate published by Eurostat, in line with market forecasts. In the second quarter of 2015, GDP grew by 0.4% and 0.5% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.9% in the EU28 in the third quarter of 2015, the same as in the previous quarter.