(News Bulletin 247) – The Euro/Dollar continued its flat consolidation course, around $1.08 for one euro, digesting the figures on American employment published on Thursday. The weekly registrations for unemployment benefits, plunging back below 200,000 new units last week, is one illustration, among others, of the tensions on employment across the Atlantic. Tensions themselves generating inflation. As Christian Scherrmann, US economist at DWS points out, “a strong labor market could even encourage the Fed to hold rates longer.”
What tense the most belligerent members (hawkish) from the Fed. Moreover, according to comments reported by Reuters, Christine Lagarde said that inflation in the euro zone was far too high and that the institution would maintain the course of rate hikes to bring this inflation down to 2% within a reasonable time. These remarks were perceived as restrictive by the market. Following statements by the central banker, the yield on the German 10-year bond rose, and currently takes 0.02 points to 2.046%.
To be continued on the statistical side, sales of old homes across the Atlantic at 4:00 p.m.
At midday on the foreign exchange market, the Euro was trading against $1.0820 around.
KEY GRAPHIC ELEMENTS
In the absence of validation of a configuration in ascending method, a continuation of neutral oscillations, in thin tidied up near the 20-day moving average (in dark blue) is expected.
MEDIUM TERM FORECAST
In view of the key graphic factors that we have mentioned, our opinion is neutral in the medium term on the Euro Dollar (EURUSD).
We will maintain this neutral opinion as long as the Euro Dollar (EURUSD) parity prices are positioned between the support at 1.0645 USD and the resistance at 1.0855 USD.
CHART IN DAILY DATA
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