{"id":21724,"date":"2011-06-15T04:00:37","date_gmt":"2011-06-15T08:00:37","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14652"},"modified":"2011-06-15T04:00:37","modified_gmt":"2011-06-15T08:00:37","slug":"euro-under-pressure-once-again","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/15\/euro-under-pressure-once-again\/","title":{"rendered":"Euro Under Pressure Once Again"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>The euro fell in early European trading following a <a href=\"http:\/\/www.bloomberg.com\/news\/2011-06-14\/greek-rescue-package-may-be-delayed-by-eu-disagreements-on-investors-role.html\">Bloomberg<\/a> report that yesterday\u2019s meeting of Europe\u2019s finance ministers in Brussels failed to resolve the differences between the ECB and Germany. After two days of euro gains this puts the pressure on the 17-nation currency once again and may be the driving factor in today\u2019s trading. Yesterday\u2019s high at 1.4500 stands as short term resistance for the EUR\/USD while a clear breach below 1.4320 could open the door to test the 1.4000 level for the second time in as many months.<\/p>\n<p><span id=\"more-14652\"><\/span>Today\u2019s Economic Data Releases:<\/p>\n<p>GBP \u2013 Claimant Count Change \u2013 08:30 GMT<br \/>\nExpectations:  7.1K.  Previous:  12.4K.<br \/>\nCable looks weak based on yesterday\u2019s doji candlestick and the pair\u2019s failure to rise above the recent falling resistance line from the May 31st high. Resistance is located at 1.6425 while the trend line off of the May 2010 low comes in today at 1.6200. A break here and the pair could test the neckline of a potential head and shoulders pattern at 1.6110.<\/p>\n<p>USD \u2013 Core CPI m\/m \u2013 12:30 GMT<br \/>\nExpectations:  0.2%.  Previous:  0.2%.<br \/>\nThere are those calling for QE3 to support the tepid economic recovery and struggling US equities, many market pundits and those in the blogosphere forget that QE I and II were implemented to drive down interest rates and avoid a potentially damaging deflationary environment. <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/06\/14\/after-solid-inflationary-data-traders-await-tomorrow%E2%80%99s-investment-news\/\">Yesterday\u2019s PPI<\/a> reading showed an increase of 0.2% on consensus expectations for only 0.1%. With rising inflation data the Fed would be hesitant to further loosen US monetary policy, a potential dollar catalyst in the medium term. <\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> The euro fell in early European trading following a Bloomberg report that yesterday\u2019s meeting of Europe\u2019s finance ministers in Brussels failed to resolve the differences between the ECB and Germany. After two days of euro gains this puts the press&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21724","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21724"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}