23, May 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

In spite of weak German releases and German Producer Price Index falling the EUR/USD was able to demonstrate some success.

The euro zone does not stop the fight against the crisis, the recession affected many major economies. The last week disappointing data pointed out that Germany, which is considered to be the locomotive of the euro zone, is also having a tough time.

Economic sentiment index, which is one of the most important German releases turned out to be lower fotecats. WPI and CPI Germany fell. This is an evidence of weak activity in the economy.

A small increase of 0.1% showed the GDP, but it is below the 0.3% forecast. The third consecutive decline showed German producer price index, it fell by 0.2%. The forecast was -0.1%.

U.S. Federal Reserve launched a third round of quantitative easing. The program will be large-scale and open-ended.