{"id":68855,"date":"2015-03-02T12:22:54","date_gmt":"2015-03-02T17:22:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=68855"},"modified":"2015-03-02T13:05:11","modified_gmt":"2015-03-02T18:05:11","slug":"eurusd-mildly-supported-following-better-than-expected-cpi-unemployment","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/eurusd-mildly-supported-following-better-than-expected-cpi-unemployment\/","title":{"rendered":"EURUSD Mildly Supported Following Better Than Expected CPI, Unemployment"},"content":{"rendered":"<div id=\"inves-1991313425\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 2, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Article by\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p><strong>Technical Bias: Bearish<\/strong><\/p>\n<p><strong>Highlights:<\/strong><\/p>\n<ul>\n<li>Eurozone CPI remains negative for third consecutive month, but not as bad as initially feared (-0.3% versus expectations for -0.5%).<\/li>\n<li>Eurozone unemployment ticks lower in January (11.2% from 11.3%).<\/li>\n<li>EURUSD retraces gains made in European session, settles below 1.12 in North American trade.<\/li>\n<li>US core PCE rises 1.3% annually in January, unchanged from December rate.<\/li>\n<\/ul>\n<p>The EURUSD rebounded on Monday in a short-lived rally following better than expected Eurozone CPI and unemployment, raising optimism the 19-nation currency bloc was slowly regaining its footing amid growing regional volatility.<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-129.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-199084\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-129.png\" alt=\"Screenshot (129)\" width=\"743\" height=\"485\" \/><\/a><\/p>\n<p>The EURUSD climbed to a session high of 1.1245 before erasing those gains in the North American session, where it would consolidate at 1.1189. The pair had opened at 1.1180. Initial support is likely found at 1.1163. On the upside, resistance is ascending from 1.1233.<\/p>\n<p>The common currency faced a bigger selloff last week amid ongoing negotiations between Greece and its EU paymasters. Both sides reached an agreement on Friday that would extend financial support to Athens for another four months, easing immediate concerns that Greece would be forced to exit the currency union.<\/p><div id=\"inves-2858572290\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>In economic data, Eurozone inflation ticked higher than expected in February, although price growth remained negative for a third consecutive month. Euro area consumer prices fell 0.3 percent annually in February, the European Commission\u2019s statistics branch reported on Monday. That was better than January\u2019s 0.6 percent drop, which was also the lowest since 2009. The reading was also better than expectations calling for a 0.5 percent drop.<\/p>\n<p>Meanwhile, Eurozone unemployment ticked lower in January, as the number of people without jobs declined by 140,000. Eurozone unemployment dropped to 11.2 percent in January, compared to December\u2019s revised rate of 11.3 percent.<\/p>\n<p>In US data, personal spending in January declined for a second consecutive month, a sign consumers were focusing on reining in their debt and increasing savings. Personal spending fell 0.2 percent, following December\u2019s 0.3 percent decline, the Commerce Department reported on Monday. Personal incomes from all sources rose 0.3 percent in January following an identical increase the previous month.<\/p>\n<p>Core personal consumption expenditures, the Federal Reserve\u2019s preferred gauge of inflation, rose 1.3 percent annually in January, unchanged from December.<\/p>\n<p>In a separate report the Commerce Department said construction spending declined unexpectedly in January, falling 1.1 percent to an annual rate of $971.4 billion. Compared to January 2014, construction spending was up 1.8 percent.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Article by\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by\u00a0fxtimes.com Technical Bias: Bearish Highlights: Eurozone CPI remains negative for third consecutive month, but not as bad as initially feared (-0.3% versus expectations for -0.5%). Eurozone unemployment ticks lower in January (11.2% from 11.3%). EURUSD retraces gains made in European session, settles below 1.12 in North American trade. US core PCE rises 1.3% annually [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-68855","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/68855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=68855"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/68855\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=68855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=68855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=68855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}