20, February 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The Center of Macroeconomic Research ZEW published economic sentiment index in Germany in February. Figure came at around 55.7, which is significantly worse than market expectations. Euro zone's leading economy still reeling and it cannot go on the road confident of economic recovery. It should be noted that bidders for the pair EUR/USD ignored the negative report from the ZEW institute and quotes during the day showed a smooth upward trend. In the absence of interesting reports from the United States - there is consolidation on the American trading session, and trading day ended at around 1.3756.

National Bureau of Statistics published a report on the UK consumer price index for January. CPI figure came out at around 1.9 % on an annualized basis, which is the lowest level since November 2009. Britain after the Euro zone and the U.S. is moving towards reducing inflationary pressures, that in the future will be negative for economic growth. Bidders for the pair GBP/USD seriously thinking that consumer price reducing will allow the Bank of England to keep interest rates low for a long time. Amid quotes British currency weakened against the U.S. counterpart and trading ended at around 1.6671.