EUR/USD remained little changed after the release of in line with expectations Eurozone consumer price index. Data showed consumer prices dropped 0.2% in November but rose 0.3% compared to the same month in 2013, while the core CPI, which excludes food and energy, climbed lorem 0.7%. Figures were broadly in line with expectations while the core CPI, which excludes food and energy.

EUR/USD levels to watch

The data released by the UK Office for National Statistics (ONS) showed the UK ILO Unemployment rate for August to October 2014 was at a six-year low of 6.00%, compared to the median estimate of 5.9%. Official figures show, UK unemployment in the three months to October fell by 63,000 to 1.96 million. The Jobless Claims declined in November by 26.9K, beating the median estimate of -20.K. On a quarterly basis, average earnings excluding bonuses grew by 1.6%.

EUR/USD analysis

Official figures show, UK unemployment in the three months to October fell by 63,000 to 1.96 million. The Jobless Claims declined in November by 26.9K, beating the median estimate of -20.K. On a quarterly basis, average earnings excluding bonuses grew by 1.6%.

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  • Heard on the Street: Opportunity for Taxpayer:
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    • Heard on the Street: Opportunity for Taxpayer:
• Why Osborne Might Be Forced to Fork Out Fees
• Heard on the Street: Opportunity for Taxpayer

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1. Within expectations: 279K to 287K: In such a case, EUR/USD is likely to rise within range, with a small chance of breaking higher.
2. Above expectations: 288K to 292K: An unexpected higher reading can send the pair above one resistance line:
   1. Why Osborne Might Be Forced to Fork Out Fees
   2. Heard on the Street: Opportunity for Taxpayer:
      • Why Osborne Might Be Forced to Fork Out Fees
      • Heard on the Street: Opportunity for Taxpayer:
3. Well above expectations: Above 293K: A sharp increase in unemployment claims would be bearish for the dollar. Two or more resistance lines could be broken on such an outcome.
4. Below expectations: 274K to 278K: A positive reading could push EUR/USD lower, and one support line could be broken.

Key Quotes

EUR/CAD remains range bound.

AUD/CAD gains though 0.98 may prompt a retest of par

GBP/CAD's move to new cycle highs keeps the broader bull trend intact.

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