[CENTER]Date : 12th January 2015
EURUSD TRADING NEAR THE LOWS IN THE LATE EUROPEAN SESSION. LIGHT ECONOMIC CALENDAR TODAY.[/CENTER]
EURUSD rose on Friday and closed at 1.1840. The German Industrial Production dropped on a monthly basis coming at a reading of 0.1 percent in November. The Unemployment Rate in the United States fell to a 15-year low level of 5.6 percent in December. The Non-Farm Payrolls surprised the investors coming better than the market expectations with a gain of 252K in December. The Wholesale Inventories also followed the positive tone registering a rise of 0.8 percent.
The President of the United States Federal Reserve in Richmond, Jeffrey Lacker expressed his optimism about the US economy and projected a rise of the GDP from 2.5 to 3 percent in 2015.
On the other hand the President of the Federal Reserve in Chicago, Charles Evans stated that even as the labor market continues to show considerable progress the current inflation and the inflation outlook remain low and Fed should avoid increasing rates until 2016.
Support for the EURUSD is seen at 1.1763 and resistance is seen at 1.1889.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.