Retail sales in the Eurozone fell by 1.3% monthly in July. This is much worse than both forecast of + 1.5%, and their June result of + 5.3%. Retail sales in Germany fell 0.9% month-on-month in July, while a 0.5% rise was expected. In the United States, retail sales grew by 1.2% in July. Industrial orders in Germany increased by 2.8% in July. This is worse than the forecast ( 5%) and the June figure ( 28.8%). Compared to the mid-March rate, EURUSD is now traded 11% higher. Last week, the ECB chief economist Philip Lane expressed concern about the over-strengthening of the European single currency. In theory, given the current low inflation, the ECB may go for additional monetary easing, since they believe that too strong euro reduces the efficiency of European exports. Recall that in August, the Eurozone’s consumer prices growth slowed to 0.4% in annual terms from 1.2% in July.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Sell | |
| MACD | Sell | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Neutral |
| Order | Sell |
| Buy stop | Below 1,173 |
| Stop loss | Above 1,203 |
Market Analysis provided by IFCMarkets.com
By Neha Gour, George Mason University; Ed Maibach, George Mason University, and Luis Ortiz, George…
By JustMarkets On Monday, the US stock indices showed mixed dynamics, with the technology sector…
By Analytical Department RoboForex GBP/USD attempted to move closer to 1.3350 on Tuesday but remained…
By ForexTime SpaceX IPO scheduled for Friday 12th June $75 billion capital raise forecast –…
By JustMarkets On Friday, the American stock market went through one of the harshest crashes…
By Analytical Department RoboForex EUR/USD began the new week at 1.1520. The US dollar ended…
This website uses cookies.