Data released today shows that unemployment continues to rise unabated in the Euro Area, and now sits at 11.6%, as shown on the graph below. It's been rising since the lows in 2007 and is well above the levels seen in January 2000. For details of the report, click here.
So far, the ECB's LTRO 1 & 2 programs have not resolved the unemployment problem in the Euro Area...for that matter, neither have the actions of the EU, to date.
In the meantime, the STOX50 remains range-bound within a zone of major resistance below the 2011 highs, as shown on the Daily chart below. Price is swirling around the 50 sma, but declining RSI, MACD, and Stochastics Indicators are indicating weakness within this zone.
In the absence of encouraging and co-ordinated political, economic, fiscal, and financial actions/reform by EU countries, I expect this Index to decline and, potentially, test the uptrend line, which currently sits at 2350.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. March 30 ~ U.S. markets closed for Good Friday Holiday
* Fri. April 6 @ 8:30 am ET ~ Employment Data
* Wed. April 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. April 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. April 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events