Dashboard

Solid News

Activity in the Leading Sectors of the EU Economy is Recovering

1/5/2023 1:02 PM

After the publication of macroeconomic statistics in the euro area, the EUR/USD pair develops a positive trend, holding at 1.0610.

Thus, inflation in France slowed down in December to 5.9% from 6.2% earlier, although analysts expected an acceleration to 6.4%, Spanish Service PMI reached 51.6 points from 51.2 points earlier, and Service PMI in France was 49.5 points, up from 49.3 points last month. The service sector in Germany strengthened the most, to 49.2 points from 46.1 points, which allowed the EU's overall value to adjust to 49.8 points from 48.5 points.

The American currency maintains last year's dynamics: for the fifth day already, there is practically no volatility in the asset, and the dollar is holding around 104.000 in the USD Index against domestic political problems. Republican Party leader Kevin McCarthy's vote for Speaker of the US House of Representatives has failed for the sixth time. He won the support of only 201 party members with the required majority of 218 votes, while the Democrats unanimously supported the candidacy of Hakeem Jeffries. The next vote is scheduled for today, but the work of the lower house of Congress has been suspended. The White House, commenting on what is happening, said President Joe Biden does not plan to interfere in the election process. As for statistics, the November JOLTS report, as expected, reflected a decrease in vacancies in the national labor market to 10.458M from 10.512M a month earlier, putting additional pressure on the dollar.


The trading instrument continues its corrective growth on the daily chart, confidently staying in an upward corridor.

Technical indicators point to a possible slowdown in growth but keep a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms new corrective bars in the buying zone.

Resistance levels: 1.0700, 1.0910. | Support levels: 1.0530, 1.0330.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com