After the Euro had dropped back to the U.S. dollar exchange rate to the weekly opening of 1.3508, the euro exchange rate could make up ground. Thus, the European single currency climbed despite negative economic data to $ 1.3682. The U.S. dollar prices were down from 74.03 to 73.09 euro cents.
German economic data remained behind in orders and industrial production to meet expectations. Thus, the industrial new orders fell -3.4 percent in the month of December 2010. In November, the companies had got an order plus of 5.2 percent. Analysts were of a slight pullback in the range -1.4 Percent is assumed.
A similar trend was observed in the German industrial production in December 2010. The industrial output decreased by 1.5 percent compared to the previous month. Economists were more optimistic and had predicted an increase in industrial output of +0.2 percent.
However, had the "relatively old" little economic data out in favor of the dollar exchange rate. The economic data from the industry are obsolete, as they are published with a delay of 40-45 days. The Sentix economic index for the euro area is, however, is a leading indicator. The current value climbed from February 2011 10.6 to 16.7 points and reached a 3.5-year high. Technical Chart
is the current situation of the euro dollar exchange rate will be classified as tricky. This would allow the short-term upward trend in the coming days and continue to argue that the EUR / USD exchange rate for the year high of 1.3860 on 2 February 2011 breaks. Watch On the other hand, technical analysts currently have a shoulder-head and shoulders pattern. This trend reversal pattern speaks for a renewed slump of the dollar euro exchange rate development.
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