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5 Jan 2015
EUR/USD stabilizes below 1.2000
FXStreet (Córdoba) - The euro entered a consolidation phase during the European session after hitting a fresh 9-year low at the weekly opening weighed by political uncertainty in Greece and fears of a Grexit coupled with prospects the ECB is headed for a QE program later this month.
EUR/USD broke through several supports and fell to its lowest level since March 2006 at 1.1860 before staging a decent comeback that was capped by the 20-hour SMA at 1.1975. The pair has settled in a range during the last hours and it is currently trading at 1.1955, recording a 0.39% loss on the day.
German CPI figures for December will be released later on Monday before Wednesday's Eurozone estimate. Eurozone inflation is expected to drop 0.1% in December, its first decline since 2009, which could fuel expectations the ECB will ease at its first meeting of the year on Jan 22.
EUR/USD broke through several supports and fell to its lowest level since March 2006 at 1.1860 before staging a decent comeback that was capped by the 20-hour SMA at 1.1975. The pair has settled in a range during the last hours and it is currently trading at 1.1955, recording a 0.39% loss on the day.
German CPI figures for December will be released later on Monday before Wednesday's Eurozone estimate. Eurozone inflation is expected to drop 0.1% in December, its first decline since 2009, which could fuel expectations the ECB will ease at its first meeting of the year on Jan 22.