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EUR/USD  has posted modest losses in Thursday trade. In the  European session, the pair is trading  just shy of  the 1.37 line.  It’s a very  busy day on both sides of the pond. There wasn’t much to cheer about in the Eurozone, as PMIs were mostly weak, and German and  French inflation indicators posted declines. In the US,  there are three key events on the schedule – Core CPI, Unemployment Claims and the Philly Fed Manufacturing Index.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • EUR/USD  lost ground late in the  Asian session,  dipping just below the 1.37 at the end of the session. The pair is unchanged in  the European session.

Current range: 1.3650 to 1.37

Further levels in both directions:   EUR USD Daily Forecast Feb.20th

  • Below: 1.3650, 1.3580, 1.3515, 1.3450, 1.34, 1.3320, 1.3295, 1.3175, 1.31 and 1.3050.
  • Above: 1.37, 1.38, 13915 and 1.40.
  • 1.3650 is  providing support. 1.3580 follows.
  • On the upside, 1.37 is under strong pressure. 1.38 is stronger.

 

EUR/USD Fundamentals

  • 7:00 German PPI. Exp. +0.3%, Actual -0.1%.
  • 7:45  French CPI. Exp. -0.3%, Actual -0.6%.
  • 8:00 French Flash Manufacturing PMI. Exp. 49.6, Actual 48.5 points.
  • 8:00 French Flash  Services PMI. Exp. 49.5, Actual 46.9 points.
  • 8:30  German Flash Manufacturing PMI. Exp. 56.4, Actual 54.7 points.
  • 8:30  German Flash  Services PMI. Exp. 53.4, Actual 55.4 points.
  • 9:00  Eurozone Flash  Manufacturing PMI. Exp. 54.2, Actual 53.0 points.
  • 9:00  Eurozone Flash  Services PMI. Exp. 51.9, Actual 51.7 points.
  • 9:42 Spanish 10-year Bond Auction. Actual 3.56%.
  • 13:30 US Core CPI. Exp. 0.1%.
  • 13:30 US Unemployment Claims. Exp. 335K.
  • 13:30 US CPI. Exp. 0.1%.
  • 14:00 US Flash Manufacturing PMI. Exp. 53.6 points.
  • 15:00 Eurozone Consumer Confidence. Exp. -11 points.
  • 15:00 US Philly Fed Manufacturing Index. Exp. 9.2 points.
  • 15:00 US Flash Mortgage Delinquencies.
  • 15:00 US CB Leading Index. Exp. 0.5%.
  • 15:30 US Natural Gas Storage. Exp. -255B.
  • 16:00 US Crude Oil Inventories. Exp. 2.1M.

 

*All times are GMT

For more events and lines, see the  Euro to dollar forecast.

EUR/USD Sentiment

More:  Analysis: ECB expects the situation to sort itself out, but things could still worsen