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Anzo Lim

 EUR/USD - ECB Need to Do More to Revive Inflation

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Recent economic data of the Euro Zone suggests economic growth in EU is under pressure. PPI of the Euro Zone in August released earlier this month has dropped more than market expectation, while September’s PMI at 45.7, the lowest level since October, 2012, indicates a struggling manufacturing sector.

 

Euro Zone registered a 1% inflation in August. Inflation has been running low in most of 2019,except for a minor increase to 1.7% around June, forcing European Central Bank to cut interest rate in September and resume quantitative easing measures.  

 

EUR/USD- Daily pivot points: 1.1002-1.1006

 S1: 1.0975           R1: 1.1036

S2: 1.0943            R2: 1.1065

 

Source: WikiFX App

 

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