- MarketPulse - https://www.marketpulse.com -

EUR/USD – Flat as German Retail Sales, Euro CPI Disappoint

The euro is flat on Friday, as EUR/USD trades in the low-1.13 range in the European session. On the release front, Eurozone releases were a disappointment. German Retail Sales posted a gain of 0.2%, while Eurozone CPI Estimate posted a sharp decline of 0.6%. In the US, today’s major events are Advance GDP and UoM Consumer Sentiment.

German Retail Sales posted a weak gain of 0.2%, marking a 3-month low. The estimate stood at 0.4%. Eurozone inflation remains anemic, as the Eurozone CPI Estimate came in at -0.6%, its second straight decline. In Spain, CPI followed suit with a decline of -1.4%, although there was good news from GDP, which improved to 0.7% in Q4.

US key numbers were a mix on Thursday. This was underscored by Unemployment Claims, which plunged to 265 thousand, down from 307 thousand a week earlier. This marked the indicator’s lowest level since April 2000. The news was not as positive from Pending Home Sales, which declined 3.7%, its worst reading in a year.

The Federal Reserve reiterated in its policy statement on Wednesday that it would be “patient” regarding the timeline for a raise in interest rates, which have been close to zero since 2008. However, the Fed also noted that the US economy was expanding at a “solid pace” thanks to the robust labor market. This vote of confidence helped the dollar post sharp gains against the euro. The Fed is widely expected to raise rates sometime during the year, so the Fed rate watch is sure to continue as the markets look for clues as to when the Fed will make a move.

EUR/USD for Friday, January 30, 2015

EUR/USD January 30 at 10:30 GMT

EUR/USD 1.1329 H: 1.1353 L: 1.1304


EUR/USD Technical

S1 S2 S1 R1 R2 R3
1.1066 1.1154 1.1231 1.1340 1.1426 1.1525


Further levels in both directions:


OANDA’s Open Positions Ratio

EUR/USD ratio pointing to gains is short positions on Friday. This is not consistent with the lack of movement we’re seeing from the pair. The ratio has a majority of short positions, indicative of trader bias towards the euro moving lower.

EUR/USD Fundamentals

*Key releases are highlighted in bold

*All release times are GMT


OANDA MarketPulse Nominated for FXstreet’s 2015 Forex Best Awards

We are pleased to share the news that FXstreet – Europe’s oldest forex trading portal, published online in more than 50 countries – has nominated your MarketPulse team for the “Best Sell-Side Analysis Team” award again this year (the winners in 2014!), as well as in the category of “Best Analysis”.

The annual Forex Best Awards highlight the best analysis, educational content, and contributors on its website from the preceding year. It is a tremendous honour to be considered for this industry accolade out of the thousands of top tier banks and financial blogs online.

However, in order to win these important awards, we need your help – we need you to vote for us [1].


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Kenny Fisher

Kenny Fisher [5]

Currency Analyst at Market Pulse [6]
Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years.
Kenny Fisher

Latest posts by Kenny Fisher (see all [5])