Euro Advances Against Majors
13 Marzo 2024 - 1:01PM
RTTF2
The euro was higher against its major counterparts in the
European session on Wednesday, as hotter-than-expected U.S.
inflation data failed to hurt expectations of interest-rate cuts in
the coming months.
Traders still expect the Fed to start cutting rates in June even
as data suggested some stickiness in inflation.
Markets now eagerly await U.S. producer price inflation and
retail sales figures this week to gauge the central bank's
potential path for interest rate cuts.
Traders also look ahead to the Federal Open Market Committee
(FOMC) meeting on March 19 and 20 for signals of possible rate cut
timings.
Data from Eurostat showed that Eurozone industrial production
declined for the first time in three months in January largely
reflecting the weakness in capital goods output.
Industrial output fell 3.2 percent on a monthly basis, reversing
December's 1.6 percent increase. This was the first decrease in
three months and also came in weaker than economists' forecast of
1.5 percent fall.
The euro climbed to 5-day highs of 161.95 against the yen and
0.9606 against the franc, off its early lows of 160.89 and 0.9574,
respectively. The euro is seen finding resistance around 164.00
against the yen and 0.995 against the franc.
The euro advanced to a 2-day high of 1.0947 against the
greenback and a 6-day high of 1.7784 against the kiwi, off its
previous lows of 1.0919 and 1.7712, respectively. The next possible
resistance for the euro is seen around 1.12 against the greenback
and 1.80 against the kiwi.
The euro reached as high as 0.8552 against the pound. If the
currency rises further, it may find resistance around the 0.88
level.
In contrast, the euro eased to 1.6516 against the aussie and
1.4724 against the loonie, from an early high of 1.6555 and a 2-day
high of 1.4762, respectively. The currency may locate support
around 1.62 against the aussie and 1.46 against the loonie.
Grafico Cross Euro vs NZD (FX:EURNZD)
Da Apr 2024 a Mag 2024
Grafico Cross Euro vs NZD (FX:EURNZD)
Da Mag 2023 a Mag 2024