Date : 20th October 2014
EURUSD ROSE SHARPLY AFTER POOR ECONOMIC DATA FROM THE UNITED STATES.
EURUSD dropped on Friday and closed at 1.2757. The Governing Council Member of the European Central Bank Ewald Nowotny that the economic growth outlook of the Eurozone may be slashed for 2015 from its 1.6 percent level. The ECB Vice President Vitor Constancio warned that any further drop in the inflation in the Euro area could be extremely harmful.
Data from the United States supported the US dollar at the end of the week. The University of Michigan reported that the consumer sentiment in the states rose to a reading of 86.4. The Housing Starts in the US also rose to 6.3 percent on a monthly basis in September. The Fed Chair Janet Yellen cautioned that the growing economic inequality in the US, posed a risk to the nation’s economic growth.
Data released today indicated that the German Producer Price Index remained at 0.0 percent on a monthly basis in September. Another...
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