16 Oct 2013
EUR/USD flat-lining around 1.3520
FXstreet.com (Edinburgh) - The shared currency is posting marginal losses on Wednesday, with the EUR/USD meandering around 1.3520 ahead of EMU’s data.
EUR/USD focus remains on US events
The US fiscal stand-off continues to be the sole protagonist in the last weeks, although there is still no agreement to re-open the federal shutdown, and more relevant, rise the debt ceiling. Negotiations look set to continue today, as tomorrow’s deadline commenced to ring alarm bells amongst investors. Data-wise, EMU’s inflation figures will be the most significant event in the region ahead of Draghi’s speech tonight, with consensus expecting consumer prices to rise at an annual pace of 1.1% during September (Core reading 1.0%). Across the pond, TIC flows will be in the spotlight amidst Fedspeak and the Fed’s Beige Book.
EUR/USD key levels
The pair is now losing 0.06% at 1.3514 with the immediate support at 1.3479 (low Oct.15) followed by 1.3467 (low Sep.30) and finally 1.3462 (low Sep.25). On the flip side, a breakout of 1.3571 (high Oct.15) would open the door to 1.3598 (high Oct.14) and then 1.3605 (high Oct.9).
EUR/USD focus remains on US events
The US fiscal stand-off continues to be the sole protagonist in the last weeks, although there is still no agreement to re-open the federal shutdown, and more relevant, rise the debt ceiling. Negotiations look set to continue today, as tomorrow’s deadline commenced to ring alarm bells amongst investors. Data-wise, EMU’s inflation figures will be the most significant event in the region ahead of Draghi’s speech tonight, with consensus expecting consumer prices to rise at an annual pace of 1.1% during September (Core reading 1.0%). Across the pond, TIC flows will be in the spotlight amidst Fedspeak and the Fed’s Beige Book.
EUR/USD key levels
The pair is now losing 0.06% at 1.3514 with the immediate support at 1.3479 (low Oct.15) followed by 1.3467 (low Sep.30) and finally 1.3462 (low Sep.25). On the flip side, a breakout of 1.3571 (high Oct.15) would open the door to 1.3598 (high Oct.14) and then 1.3605 (high Oct.9).