Hello koala king and folks.
Good day to you.
Statistical Center of Europe announced on Monday that euro zone inflation in April fell slightly. According to the report the 17-nation euro inflation rate of 2.7 percent in March fell to less than 2.6% in April. Eurozone inflation remains above the European Central Bank target rate of two percent. Accordingly, economic experts believe that given the relative decline in energy prices and declining inflation in the euro area, central bank policymakers in Europe will be looking at holding the interest rates at the current level.
Bank of Greece warned that the economy this year will be in a situation far worse than what was anticipated to be experienced. According to the bank, Greece’s economy this year will witness the decline of five percent.
Retail sales growth in Germany in March was less than anticipated. This means that the spending tendency of German consumers is reducing. The German economy and German exports are affected by the economic crisis and weaken global demand.
While the Spanish government tries to implement austerity programs, statistics show that it is going into a recession. Spain’s National Statistics Institute said the country’s GDP, for the second consecutive season in the first quarter of this year, fell 0.3 percent.
From a technical perspective: As I said in the weekly analysis, the EUR/USD is caught in a triangle on the daily time frame. The EUR/USD in the 4-hour time frame has broken uptrend channel and is falling to the floor of the triangle in the daily time frame.
Have a nice time.
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