EUR/USD Forecast: Shy upward correction underway

President Obama, during a speech about job gains in Hyattsville © Olivier Douliery-Pool / Getty Images
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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%.