21, November 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Yesterday was fairly quiet on the currency market. The institute ZEW published its data and forecasts. And if the index of mindset in the business environment in Germany rose to the level 54.6, the highest level since May 2006. The macroeconomic data for the euro-zone as a whole showed a growth, though we received figures worse than expected. And that was enough to "bears" took the game into their own hands and were able to bring the euro to the level 1.3487. Employment cost index was published in the U.S.. The indicator showed a decline of 0.1 % to reach 0.4 % q/q.

This release indicates a decline in inflationary pressures in the country, which is not good for the U.S. currency. Amid these quotes EUR/USD managed to regain its losses.

There was United Kingdom10 -year government bonds auction yesterday. Amid this news the pound fell to the nearest support level 1.6058. However, further in the U.S. session on weak Employment cost index the British currency regained its losses.