Euro back the lost positions

The European currency fell against the US Dollar in the first half of the day, even in spite of good data for Inflation in the Euro zone, but investors are again buying euros, since the macro-meadows-economic indicators in the U.S., a slight decline in economic growth rates.

According to the Agency for statistics of Eurostat, in the Eurozone, annual growth of the rate of Inflation observed. So, in September of 2016, compared with the same period of the previous year, consumer prices in the Eurozone rose by 0.4%. These data are consistent with the forecasts of economists, the expected increase in consumer prices.

The US Dollar started to decline after the data, the personal spending in the US in August remained 2016 unchanged. This points to the concerns of the households, prefer to for more spending.

According to the U.S. Department of Commerce, personal income increased by 0.2%, while economists an increase in spending of 0.1% and the revenue by 0.2%.

The statistics also indicates that the Americans will gradually increase their savings rate, which amounted in August to 5.7% compared to 5.6% in July. Even the price index of private consumer spending rose by 0.1% compared with July.

Data from the University of Michigan helped easy the US Dollar. The final index of consumer sentiment in September rose to 91.2 points, while economists growth of the metric only expect to 90.0 points.

At the meeting of the North American Euro paired with the US Dollar back to the steps of the discovery of the day, keeping the trade in the weekly side of the channel. The support level of 1.1170 resisted, which refers to the large presence of buyers of euros in this area and a possible continuation of the rising trend, which was created at the end of the last week.

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With kind Regards,
Analyst: Pavel Vlasov
GK InstaForex © 2007-2016

*The presented analysis of the market carries an informative character and is not a guide to deal.

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