ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD Heads to Give Back its Gains After CPI
We have seen some response purchases in the euro, with the thought that the natural gas prices falling to 112 euros in the Netherlands would ease the cost burden of the regional companies and alleviate the recession concerns to some extent. However, according to the European Statistical Office (Eurostat) reported today, the consumer price index (CPI) in the eurozone was announced at 9.9% on an annual basis in September, slightly below market expectations, maintaining its high levels. Under this outlook, the 0.9780 level can be followed closely in EURUSD parity, which is likely to maintain its pullback potential as long as it remains below the 0.9865 level, which corresponds to the upper boundary line of the descending channel. 0.9745 support may come to the fore in the transition below this point. In the possible transition above 0.9865, the psychological 0.9900 resistance may be on our radar.
