Article By RoboForex.com
In the afternoon, the main currency pair started moving more actively based on the published reports from the Euro Area.
On Tuesday morning, EURUSD was pretty calm, because there weren’t any significant reasons to move. However, such reasons may appeared in the afternoon. The current quote for the instrument is 1.1920.
The statistics published by the Eurozone in the afternoon look rather mixed, although nobody expected any surprises. The second estimate of the GDP Growth Rate in the first quarter 2018 was +2.5% y/y, the same as expected. On QoQ, the indicator added 0.4%.
At the same time, the Industrial Production expanded only by 3.0% y/y in March against the expected reading of +3.7% y/y. On MoM, the indicator increased by 0.5%, which may be considered as a god result, but expectations were +0.7%.
Earlier, Germany also failed the Euro: the country’s preliminary report on the GDP showed +0.3% q/q, which is worse than expectations and the reading of the fourth quarter 2017, 0.4% q/q and 0.6% q/q respectively.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
These numbers will influence the market for several more hours, but later investors will switch their attention to the statistics from the USA to be published in the evening. One of the most anticipated reports is the Retail Sales, which is expected to be quite strong and may help the USD to strengthen. .
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
