The euro struck a high of 1.3830 and a low of 1.3786 yesterday as European countries were on holiday. Mario Draghi can look for clues from euro area companies this week on whether the region needs more stimuli to counter economic risks from low inflation to geopolitical tension. Purchasing managers’ indexes tomorrow are forecast to show growth in manufacturing activity holding at the weakest pace this year. Figures the following day may show declining business confidence in Germany, the region’s biggest economy, in a survey published shortly before the European Central Bank president speaks in Amsterdam. A territorial dispute between Russia and Ukraine, which supply much of Europe’s energy, is undermining confidence in a recovery already threatened by a strengthening currency and subdued pricing power. That raises the prospect of ECB officials being called on their promise to ease monetary policy if needed, including with unconventional tools such as quantitative easing. Time of Writing : 1245 HRS - PST (Tuesday, April 22, 2014) DAILY TECHNICAL RESISTANCES AND SUPPORTS CURRENT PRICE: 1.3786 RESISTANCES: 1.3825 1.3848 1.3874 SUPPORTS: 1.3778 1.3748 1.3725
Posted on: Tue, 22 Apr 2014 08:54:59 +0000