FX:EURUSD   Euro Fx/U.S. Dollar
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Euro             zone: Inflation rate back to zero
The inflation rate in the euro             zone returned to zero in April. According to preliminary estimates, it rose from -0.1% in March to 0.0%. The main reason was the food price trend. The inflation rate without energy, food, drink and tobacco stuck at 0.6%. Although the inflation rate has climbed significantly since its low in January (-0.6%), the ECB will continue its asset purchase programme on the same scale.

EURUSD             CLIMBED ON THE INFLATION RATE AND US GDP LARGELY BELOW THE FORECAST
• 10 YEARS BUND             RATE HAS INCREASED OF 20 BP             IN 2 DAYS FROM 0.16% TO 0.36%


TECHNICALLY EURUSD             HAS BROKEN A CHANNEL AND COULD GO TO 1.1532 AS TARGET
HOWEVER YOU HAVE MANY RESISTANCE

RES 1.1270
RES 1.1378
RES 1.1450
TARGET 1.1532

SUPPORT
1.1100
1.1050
1.0850
1.0520
1.0460
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