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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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EU CPI expecting to improve

Article By: ,  Financial Analyst
April 30, 2015 10:17 AM

The FOMC last night left rates unchanged but came across quite optimistic even with the weak data of late, with the impression that rates will rise this year. This gave the USD a boost late on, but it’s still is on the back-foot from strong rallies from the EUR and GBP, which continue to push higher.

Today’s data from the Eurozone is the CPI with a few reads to be released, the Flash CPI is expecting to rise from -0.1% to 0.0% and the core CPI is expected to be the same as last at 0.6%. The unemployment rate is also expected to drop to 11.2% from 11.3%. if we get as expected or better we could see this rally push even higher now heading towards 1.15.

Unemployment claims due out from the US and an expected small drop to 290k from 295k may help out with this weak USD we are seeing, but it seems unlikely.

 

 

EUR/USD
Support 1.0990-1.0860-1.0760 | Resistance 1.1230-1.1320-1.1460

 

 

USD/JPY
Support 118.60-118.20-117.80 | Resistance 119.40-119.80-120.20

 

 

GBP/USD
Support 1.5340-1.5250-1.5175 | Resistance 1.5520-1.5600-1.5700

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