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30 Sep 2014
EUR makes fresh two year low - FXStreet
FXStreet (Barcelona) - Valeria Bednarik explained that the Euro took another dip this Tuesday, with the EUR/USD down to 1.2570 fresh 2 year low, helped by local inflation readings, pointing out deflationary pressure are here to stay.
Key Quotes:
“EZ CPI fell to a 5 year lows in its core reading, albeit the selling in the pair began even before the release”.
“Weaker than expected US data, with Chicago PMI below expected and Consumer confidence down to 86.0 against the 92.5 expected, helped the pair recover above the 1.2600 figure, yet stalled far from former year low of 1.2660, now immediate resistance”.
Key Quotes:
“EZ CPI fell to a 5 year lows in its core reading, albeit the selling in the pair began even before the release”.
“Weaker than expected US data, with Chicago PMI below expected and Consumer confidence down to 86.0 against the 92.5 expected, helped the pair recover above the 1.2600 figure, yet stalled far from former year low of 1.2660, now immediate resistance”.