EURO (EURUSD) Strategy : 11.08.2016
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Euro currency traded higher by 0.5 percent yesterday owing to weakness seen in the American currency. Moreover, the Eurozone government has set out new fiscal targets for Portugal and
Spain as they backed the decision by the European Union’s executive not to fine them for missing deficit targets.
However, sharp gains were restricted as excess liquidity in the Euro-zone marginally fell to E977.626bln on Friday from E982.096bln the night before according to latest ECB figures.
Moreover, the Bundesbank boss and ECB governing council's Weidmann in an interview signaled at the possibility of adjusting the bond-buying programme. They also acknowledged the fact
that they might be a pressure of keeping interest rates low as highly indebted countries could not withstand a rate rise.
OUTLOOK
Euro is expected to trade lower as a recent report from an agency showed that ECB officials have spent around £822billion (€958bn) in purchasing of bonds since Mar’15, hoping to lower borrowing
costs and spark growth.
Economic News
Spanish Manufacturing PMI declined to 51.0 in July'16 from previous months 52.2.
CPI Flash Estimate for the month of July’16 surged by 0.2 percent from previous months 0.1 percent.
German Retail Sales plunged by 0.1 percent in July’16 from a gain of 0.7 percent in previous month.
Prelim Flash GDP for q/e June’16 plunged by 0.3 percent from previous quarters 0.6 percent.
Click Here & Register To Get 2 days Trial Tips
Free Currency Tips : Join Our Whatsapp No : 9841986753
Euro currency traded higher by 0.5 percent yesterday owing to weakness seen in the American currency. Moreover, the Eurozone government has set out new fiscal targets for Portugal and
Spain as they backed the decision by the European Union’s executive not to fine them for missing deficit targets.
However, sharp gains were restricted as excess liquidity in the Euro-zone marginally fell to E977.626bln on Friday from E982.096bln the night before according to latest ECB figures.
Moreover, the Bundesbank boss and ECB governing council's Weidmann in an interview signaled at the possibility of adjusting the bond-buying programme. They also acknowledged the fact
that they might be a pressure of keeping interest rates low as highly indebted countries could not withstand a rate rise.
OUTLOOK
Euro is expected to trade lower as a recent report from an agency showed that ECB officials have spent around £822billion (€958bn) in purchasing of bonds since Mar’15, hoping to lower borrowing
costs and spark growth.
Economic News
Spanish Manufacturing PMI declined to 51.0 in July'16 from previous months 52.2.
CPI Flash Estimate for the month of July’16 surged by 0.2 percent from previous months 0.1 percent.
German Retail Sales plunged by 0.1 percent in July’16 from a gain of 0.7 percent in previous month.
Prelim Flash GDP for q/e June’16 plunged by 0.3 percent from previous quarters 0.6 percent.