Euro lower at the opening of European part of the session

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Thursday, Apr 09 2015

Euro was pushed lower at the opening of the European part of the session, though there were no major data releases from Eurozone. From Germany Industrial Production and Trade Balance were released. In February 2015, production in industry was up by 0.2% from the previous month on a price, seasonally and working day adjusted basis, beating forecasts on 0.1% increase. In January 2015, the corrected figure shows a decrease of 0.4% (primary +0.6%) from December 2015.

The foreign trade balance showed a surplus of 19.2 billion euros in February 2015. In February 2014, the surplus of the foreign trade balance had been +16.2 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 19.7 billion euros in February 2015. Analysts were anticipating surplus of 20.3 billion euros.

Euro is currently being traded around 1.0730 area. Pair is likely to find support around 1.07 handle and resistance above 1.0780 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.

More in this category: « Aussie heading towards 0.77 handle UK Trade Balance deficit at a seven-month high »

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