Germany Industrial Production s.a. (MoM) came in at -1.8%, below expectations (0.3%) in May

Germany Industrial Production n.s.a. w.d.a. (YoY) down to 1.3% in May from previous 1.8%

Germany: Industrial Production drops 1.8% in May

German Industrial Production fell 1.8% in May, down from the 0.3% decrease registered the previous month, according to data released by Statistisches Bundesamt Deutschland. Market consensus pointed to a 0.3% rise.
On an annual basis German Industrial Production grew 1.3%, following a 1.8% increase.

German Industrial Production fell 1.8% in May, down from the 0.3% decrease registered the previous month, according to data released by Statistisches Bundesamt Deutschland. Market consensus pointed to a 0.3% rise.
On an annual basis German Industrial Production grew 1.3%, following a 1.8% increase.

GBP/USD recovers after the slide to 1.7130 on Goldman Sachs forecasts

GBP/USD started the day at 1.7157, and moved lower reaching 1.7134, but rebounding to 1.7150 area by the moment.

GBP/USD started the day at 1.7157, and moved lower reaching 1.7134, but rebounding to 1.7150 area by the moment.

Hopes and expectations

Although the pound came under pressure in the morning on the news that Goldman Sachs moved the Fed’s first hike forecast to earlier dates, the pair is still trading not far from multi-year highs reached last week. The market still believes that Carney and Co will have to move to tightening mode earlier than is forecasted. And although the coming BOE meeting is highly expected to be another non-event, small part of traders may still price in the possibility of views divergence within the MPC. It means that new record highs for the pair may be just a matter of time. The initial target to the upside may lie at 1.7183 resistance.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.7157, with support below at 1.7133, 1.7107, and 1.7083 with resistance above at 1.7183, 1.7207, and 1.7233. Hourly Moving Averages are bullish, with the 200SMA at 1.7081, and the daily 20EMA bullish at 1.7022. Hourly RSI is bearish at 41.

EUR/USD is depressed by German readings

EUR/USD opened the day at 1.3594, slid to 1.3575 at the moment, and is on the way lower due to weak German data.

EUR/USD opened the day at 1.3594, slid to 1.3575 at the moment, and is on the way lower due to weak German data.

Back and forth around 1.36
The pair is trading just below 1.36 area still impressed by stronger than expected US data. However, the week ahead promises to be rather dull from the fundamental point of view, thus, the recovery back above is not ruled out, but only if some second-tier data prove to be euro supportive. Just released German data confirmed the fall of industrial production to -1.8% m/m, +1.3% y/y from -0.3% m/m, +1.8% y/y previously. This is another argument in favor of euro zone economical weakness, as even the largest economy of the region is under the pressure, and may no longer bear the burden of the periphery.
What are today’s key EUR/USD levels? 

Today's central pivot point can be found at 1.3597, with support below at 1.3583, 1.3570 and 1.3556, with resistance above at 1.3610, 1.3624, and 1.3637. Hourly Moving Averages are bearish, with the 200SMA at 1.3636 and the daily 20EMA bearish at 1.3625. Hourly RSI is bearish at 33.

Czech Republic Foreign Trade Balance (MoM) declined to 34.7B in May from previous 42B

Switzerland Foreign Currency Reserves up to 449.6B in June from previous 444.4B

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