EUR/USD (week of 12-16/09)

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Weekly Summary

Euro-Dollar increases slightly to 1.0017 (a 0% gain) after closing the previous session at zero .

A good end to the trading week, EUR/USD is up to 1.0017, after closing yesterday at zero. Overall, a 0% move or 10,017 pips this week. (Start trading the Euro at FXTM today).

Euro-Dollar upside coincides with further encouraging market factors as highly important Core Retail Sales data from United States beat analyst expectations of 0.1% with a reading of -0.3%.

Nevertheless, United States Retail Sales beat analyst expectations of 0.2% and the previous reading of -0.4% with new data of 0.3%.

Meanwhile, Germany ZEW Economic Sentiment Index released Tuesday with a figure of -61.9, while the previous figure was -55.3. Euro Zone CFTC EUR speculative net positions released today at 19:30 UTC with a figure of -11,800, while the previous figure was -36,300. United States Philadelphia Fed Manufacturing Index (Sep) came out at -9.9, while a consensus of analysts was expecting 2.8.

Elsewhere, Germany Producer Price Index projected to decline to 1.5% while previous data was 5.3%; data will be released Tuesday. France Services PMI is expected Friday. Euro Zone Composite PMI figure is projected at 48.2. It previously stood at 48.9; data will be released Friday.

Sep. 16, 2022

Euro-Dollar up 0.16%, trading at 1.0017

(23:00) GMT

Euro-Dollar goes up to 1.0017, having dipped down to 0.9945 earlier.

Meanwhile, Euro Zone Consumer Price Index came out at 9.1%, while a consensus of analysts was expecting 9.1%. Euro Zone CFTC EUR speculative net positions released today at 19:30 UTC with a figure of -11,800, while the previous figure was -36,300. Euro Zone Core Consumer Prices came out at 4.3%, while a consensus of analysts was expecting 4.3%.

EUR/USD made an initial breakout above its 21 day Simple Moving Average at 1.0007, a potential indicator of a newly emerging bullish phase.

Overall, looking at the technical analysis landscape, it seems Euro-Dollar might continue pointing upwards in the short term.

Elsewhere, other currency pairs are also gaining ground as EUR/GBP added 0.52% to its value, now trading at 0.8768.

Meanwhile, GBP/NZD drops 0.83% to trade around 1.9058. GBP/JPY is down 131 pips from the beginning of the session and now trades around 163.21.

Furthermore, the market is looking at Euro Zone ECB's Lane speech set for tomorrow at 16:45 UTC.

Having set a significant high of 1.1767 10 days ago, the Euro is trading 0.98% lower.

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