The EUR/USD edged higher on Wednesday, following a report from the EU institute that said investment was poised to outpace consumption. The currency pair
The EUR/USD edged higher on Wednesday, following a report from the EU institute that said investment was poised to outpace consumption. The currency pair was unable to break through resistance near the 50-day moving average at 1.0625. Support on the currency pair is seen near the 10-day moving average at 1.0531. The exchange rate continues to form a bottom, as momentum remains positive with the MACD (moving average convergence divergence) index prints in the black with an upward sloping trajectory which points to a higher exchange rate.
Eurozone institutes see steady growth of 0.4% quarter over quarter through to Q2. Investment is now expected to outperform consumption and annual rates are expected to be around 1.5% and inflation is expected to jump to 1.5% in Q1 and Q2 from 0.7% in Q4 2016. 1.5% is still below the ECB’s definition of price stability, but still, the marked uptick.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.