Forex News: Euro Breaks a 15-Month High Following Improved Consumer Confidence

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0853-0.0179

THE TAKEAWAY: Euro-zone consumer confidence confirmed at -23.9 in January -> ECB predicts an upcoming recovery -> Euro sets a new 15-month high

The Euro-area business climate indicator improved to an eight month high in January, according to the European Commission. The indicator was reported at -1.09, which although was worse than the expected -1.00 result, was still an improvement from a revised -1.11 in January. Additionally, the Euro-zone consumer confidence was confirmed at -23.9 in January, an improvement from December’s consumer confidence.

The Euro-zone economic confidence indicator rose to 89.2 from December’s 87.8 confidence level, and the industrial confidence for January rose to -13.9 from a previous -14.2.

The European Central Bank predicted a Euro-zone recovery later in 2013, and Euro investors are looking for signs of that recovery. Recent PMI’s showed a slowdown of the decline in composite output, and today’s indicators also indicated an improving economic confidence.

The Euro set a new 13-month high against the US Dollar in today’s Forex trading while climbing well above 1.3500. The rally continued following the release of the Euro-zone consumer confidence indicator. At the time of this writing, EUR/USD is trading at 1.3550, and resistance may be provided by the 1.400 key level. Support could now be provided by the broken resistance line of 1.3500.

EURUSD Daily: January 30, 2013

Euro_Breaks_a_15-Month_High_Following_Improved_Consumer_Confidence_body_eurusd_daily_chart.png, Forex News: Euro Breaks a 15-Month High Following Improved Consumer Confidence

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to bbspier@fxcm.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3810+0.01+0.73%
    USDSGD=X
    1.4988-0.0138-0.91%
    EURSGD=X
    2.0763-0.0149-0.71%
    GBPSGD=X
    87.4312-0.1695-0.19%
    SGDJPY=X
    5.6167-0.0398-0.70%
    SGDHKD=X
    2.6661+0.0022+0.08%
    SGDMYR=X
    9,457.2822-46.7559-0.49%
    SGDIDR=X
    4.5350-0.036-0.79%
    SGDCNY=X
    1.0654-0.0016-0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,167.20-29.00-2.42%
    GCJ15.CMX
    15.88-0.28-1.75%
    SIK15.CMX
    67.73-4.81-6.63%
    ^XAU
    2.61-0.04-1.66%
    HGK15.CMX
    49.65-1.11-2.19%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.69+0.12
    ^FVX
    2.24+0.13
    ^TNX
    2.84+0.12
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    100.007-0.008-0.01%
    41H.SI
    1.055+0.050+4.98%
    N21.SI
    0.925-0.025-2.63%
    G13.SI
    0.280.000.00%
    5WA.SI
    4.18+0.07+1.70%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.147+0.041+38.68%
    40E.SI
    0.119+0.014+13.33%
    5CH.SI
    0.194+0.019+10.86%
    5OQ.SI
    0.59+0.05+9.26%
    L5I.SI
    0.25+0.02+8.70%
    41C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.185-0.040-17.78%
    MR8.SI
    0.26-0.05-14.75%
    T4B.SI
    0.13-0.02-12.75%
    5TW.SI
    0.12-0.02-11.11%
    P07.SI
    0.325-0.030-8.45%
    D03.SI