Forex: EUR/USD little changed after US CPI

The single currency stayed put after the US inflation figures during January, rising 1.6% over the last twelve months and matching estimates. The Core print rose 1.9%, bettering the median at 1.8%.

News from the labor market showed mixed results, with Initial Claims rising to 362K on a weekly basis and Continuing Claims falling to 3.137 million.

EUR/USD is losing 0.67% at 1.3194 and a drop beyond 1.3039 (low Jan.10) would open the door to 1.3018 (low Jan.7) and finally 1.2998 (low Jan.4).
On the upside, resistance barriers align at 1.3367 (MA10d) would bring 1.3440 (MA21d) and finally 1.3456 (high Feb.14).

Feb 21, 2013

France expected to miss 2013 deficit target

Ahead of the release of the European Commission’s economic forecasts on Friday, French radio RTL informed that according to estimates growth in France would remain almost stagnant this year, while the fiscal deficit would reach 3.6%, compared with the target of 3%. EU sources suggested that the European Commission would require additional reforms to curb French public spending.

Forex: USD/CAD trading positively at 1.0178/80 after US data

After peaking briefly at 1.0203 (intraday maximum) earlier today, the USD/CAD has eased slightly, surrendering some of its gains, notably on the heels of US data Thursday. At the onset of American trading, the pair is still trading positively at 1.0178/80, up +0.10%.