Currency Analyst since 2010

August 13: European session

Euro zone released strong statistics at 9:00 GMT. EZ ZEW economic sentiment rose to the highest level since April 2010 (44.0 vs. forecast 37.4 and prior 32.8). German sentiment index came at a highest since March 2013 (42.0 vs. forecast 40.3 and prior 36.3).

Euro zone industrial production grew by 0.7% m/m in June (forecast: +1.1%, prior: -0.2%). Figure missed the target, but reached the highest level since January. EUR/USD is trading at session highs around $1.3320 on these data increase expectations about tomorrow's EZ GDP.

GBP/USD spiked down today to $1.5430 (see H1) and the rose to $1.5490, a level close to 55- and 100-hour MAs which are about to cross in a bearish manner. EUR/GBP is fluctuating around 0.8600.

UK CPI came in line with expectations at 2.8% in July (prior: 2.9%). The core reading came at 2.0%, missing the median at 2.2% and lower from June’s 2.3%.


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