The Euro is getting a bit more expensive. Overview for 05.07.2016
05.07.2016
On Tuesday, the main currency pair is slowly growing, but the market prefers to save strength in anticipation of reports on American employment.
The Eurodollar is rising in price slowly on Tuesday afternoon. The current quote for the instrument is 1.1159. it’s a little bit higher than it was yesterday, but still, the activity is far from its average.
According to the statistics published today, the business activity index in the tertiary industry in the Eurozone increased in June up to 52.8 points against the predicted number of 52.4 points. In Germany, the indicator increased up to 53.7 points against the expected number of 53.2. In France, it was 49.9 points, thus matching expectations.
Other reports showed that retails sales in the Eurozone in May added 0.4% m/m (1.6% y/y). Both numbers are the same as expected. Steady growth of retail sales indicates that consumers are ready to spend their money, and this is a very good signal considering dim outlooks of the Old Continent.
Today, American investors, who had a day off yesterday due to the Independence Day holiday, are back at the market. So, the market’s attention will be focused on the overseas statistics: this week the USA will publish a report block on the employment market in June. Because of disappointing statistics in May, the tensions will develop closer to Friday, when the report will be published.
RoboForex Analytical Department
The Eurodollar is rising in price slowly on Tuesday afternoon. The current quote for the instrument is 1.1159. it’s a little bit higher than it was yesterday, but still, the activity is far from its average.
According to the statistics published today, the business activity index in the tertiary industry in the Eurozone increased in June up to 52.8 points against the predicted number of 52.4 points. In Germany, the indicator increased up to 53.7 points against the expected number of 53.2. In France, it was 49.9 points, thus matching expectations.
Other reports showed that retails sales in the Eurozone in May added 0.4% m/m (1.6% y/y). Both numbers are the same as expected. Steady growth of retail sales indicates that consumers are ready to spend their money, and this is a very good signal considering dim outlooks of the Old Continent.
Today, American investors, who had a day off yesterday due to the Independence Day holiday, are back at the market. So, the market’s attention will be focused on the overseas statistics: this week the USA will publish a report block on the employment market in June. Because of disappointing statistics in May, the tensions will develop closer to Friday, when the report will be published.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.