Flow of Funds Out Of Euro Area Rises, Euro Trying to Rebound
fxbom.com
07:09 PM
In trading pair EUR/USD European session this afternoon (19-12) tracked the Euro strengthened against the U.S. dollar rebounded and is in the range 1.3025.
Pair EUR/USD is still being monitored within the trading range is limited, although recent information about the indicators Current Account has just been released by the European Central Bank showed a decrease in performance in the foreign trade sector.
Reported that the ECB indicator October Current Account shows a deficit-7.5B previously expected to deteriorate into a-2.1b of the surplus value of the period September 2.2b.
Furthermore, the ECB reported that the financial account, there was a net flow of funds out of about 32.1 billion Euros (non-seasonally adjusted).
Analyst Research Vibiz of Vibiz Consulting suggests that the deficit on the current net fund outflows may reflect the declining attractiveness for capital flows Euro area. This can be an indication of the potential for further pressure on the euro in December.
In intraday trading, the euro is still in bearish territory against the U.S. dollar and a rebound is happening is expected to lead to the range of 1.3085, which is the Resistance range is quite strong on the European trading session today.
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