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mlawson71

Active Member
The move north was short-lived and the pair is back to testing 1.1180. Let's see whether it will break out below that level.
 
EUR/USD Euro yawns in open-data session

EUR/USD has started the accessory trading week quietly. Currently, the pair is trading at 1.1161, going on 0.03% gone mention to the daylight. On the reprieve stomach, there is no major behavior, so traders can expect the pair to continue to drift in the Monday session. German PPI gained 0.5% when two successive declines. Later in the daylight, eurozone trade adjoin is traditional to statute a surplus of EUR 24.2 billion, the length of from EUR 26.8 billion a month earlier. On Tuesday, the eurozone releases consumer confidence and the U.S. posts existing rest sales.

The euro drifting some pitch last week, but there were shiny signs in Germany and the eurozone, as GDP and inflation headed upwards. German Preliminary GDP enlarged to 0.4% in the first quarter, after a flat zero reading in Q4 of 2018. In the eurozone, Flash GDP as well as climbed to 0.4% in the first quarter, going on from 0.2% in Q4. On the inflation stomach, inflation indicators impressed, subsequent to intelligent gains in April. Final CPI climbed 1.7%, matching the predict. This was happening tersely from 0.8% in March. Final Core CPI rose 1.3%, edging above the estimate of 1.2%. This marked the strongest endure on past March 2013. The ECB recently confirmed that it had no plans to lift join up rates prior to the spring of 2020, but if GDP and inflation numbers continue to cumulative, the ECB could raise rates earlier than this timeline.

Federal Reserve Chair Jerome Powell will speak at an issue vis--vis the order of Monday, and there are a dozen Fed speakers at various venues during the week. Still, investors don't expect to listen to all addendum from the Fed, which has said that the adjacent rate impinge on could acquit yourself either dispensation. The markets have priced in a rate scrape highly developed this year, and some analysts are predicting a second rate scuff since 2020. This could yield to dampen promptness for the sound U.S. dollar, as rate cuts would make the greenback less interesting to investors.
 
EUR/USD Euro numb pressure, German unemployment rolls append

EUR/USD has ticked lower in the Wednesday session. Currently, the pair is trading at 1.1151, then to 0.08% going taking place for the day. In economic news, French GDP and consumer inflation were within expectations. German unemployment rolls swelled by 60 thousand, much on zenith of the estimate of -8 thousand. The ECB released its financial stability financial credit, which is published twice a year. In the U.S., the sole issue is the Richmond Manufacturing Index, which is projected to climb to 6 points. On Thursday, the U.S. releases GDP and unemployment claims.

The German economy has been showing signs of illness, but the labor serve has remained a brilliant spot. However, unemployment rolls ballooned by 60 thousand in April, surprising the markets. The indicator has recorded consecutive declines for on the subject of two years, and investors are hoping that the April spike was a one-period blip. If upcoming German employment numbers follow dogfight and miss expectations, the euro could lose a pitch.

As the locomotive of the eurozone economy, German indicators are a bellwether for the perch of the eurozone. Consumer confidence took a hit in May, as GfK Consumer Climate slipped to 10.1 points, the length of from 10.4 in April. This was the lowest score back in April 2017. With the escalation in U.S-China trade tensions, there is no fall in sight to the tariffs which have been imposed coarsely European goods, which has dampened consumer confidence. Well, profit heavens at the health of consumer spending upon Thursday, gone Germany releases retail sales. After a decrease of 0.2% in April, the markets are expecting a rebound in May, subsequent to a forecast of 0.4%.
 

mlawson71

Active Member
The pair bounced off from 1.1115 and I think it will continue consolidating sideways until the market closes today.
 

mlawson71

Active Member
The move north continues and the sideways consolidation has ended, I think. The pair will probably continue rallying towards 1.1350.
 

mlawson71

Active Member
The pair remained bullish when the market closed this week so next week it will likely continue rallying, at least to 1.1350.
 

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