Euro Climbs Amid Risk Appetite
10 Luglio 2017 - 7:17AM
RTTF2
The euro strengthened against its major counterparts in early
European deals on Monday amid risk appetite, as European shares
rose following strong gains from Asia and Wall Street, as Chinese
inflation data added to growth optimism fueled by Friday's solid
jobs data.
Consumer prices in China rose an annual 1.5 percent in June, the
National Bureau of Statistics said. That was unchanged from the May
reading, but was shy of expectations for 1.6 percent.
The bureau also said that producer prices were up 5.5 percent on
year - unchanged and in line with expectations.
Meanwhile, leaders of the Group of 20 countries other than the
United States reaffirmed their commitment to the Paris climate
accord on Saturday, saying that it is irreversible.
"We reaffirm our strong commitment to the Paris Agreement,
moving swiftly towards its full implementation in accordance with
the principle of common but differentiated responsibilities and
respective capabilities," the G20 said in its communique released
on conclusion of the two-day summit in Hamburg, Germany.
Data from Destatis showed that Germany's exports and imports
grew more than expected in May.
Exports grew 1.4 percent month-on-month in May, faster than the
0.9 percent increase seen in April. Shipments were expected to gain
only 0.3 percent.
Meanwhile, survey results from think tank Sentix showed that
Eurozone investor confidence moderated in July.
The investor confidence index fell marginally to 28.3 in July
from a near decade high. The score was forecast to fall to 28.2
from 28.4 in June.
The euro held steady against its major counterparts in the Asian
session, with the exception of the yen.
The euro hit 130.40 versus the yen, level unseen since February
2016. Continuation of the euro's uptrend may see it challenging
resistance around the 133.00 region.
Data from the Ministry of Finance showed that Japan posted a
current account surplus of 1,653.9 billion yen in May.
That missed forecasts for 1,792.8 billion yen following the
1,951.9 billion yen surplus in April.
The euro that closed Friday's trading at 1.4679 against the
loonie and 1.4990 versus the aussie rose to 1.4719 and 1.5027,
respectively. The euro is likely to find resistance around 1.49
against the loonie and 1.52 against the aussie.
The euro recovered to 0.8857 versus the pound, off its early low
of 0.8833. The next possible resistance for the euro-pound pair is
seen around the 0.90 mark.
The euro gained to 1.0998 versus the franc and 1.1418 versus the
greenback, from its early lows of 1.0976 and 1.1390, respectively.
On the upside, 1.12 and 1.16 are likely seen as the next resistance
for the euro against the franc and the greenback, respectively.
Looking ahead, U.S. labor market conditions index for June and
U.S. consumer credit for May are slated for release in the New York
session.
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