The Euro couldn’t stay on Olympus. Overview for 03.08.2016
03.08.2016
The main currency pair is falling on Wednesday afternoon. Buyers couldn’t maintain yesterday’s momentum.
The Eurodollar is falling slowly on Wednesday afternoon. The current quote for the instrument is 1.1198. It appears that the Euro couldn’t keep yesterday’s wave of enthusiasm.
The daily statistics was quite passive and couldn’t be a catalyst for the main currency pair. So, retails sales in the Eurozone in June remained the same, as expected. On a year-on-year basis, the indicator in June added 1.6%, which is a bit worse than 1.7% y/y in May. In May, the indicator increased by 0.4% against the month before.
For the European Union, retails sales in June reduced by 0.2% m/m (+2.4% y/y).
In general, there is nothing unusual.
Yesterday, there was a feeling that the US Dollar got under expected pressure, because, frankly speaking, last Friday’s statistics relating to the USA GDP in the second quarter wasn’t really noticed by the market and quotes. However, the wave of sales came to nothing as fast as it appeared in the first place. Still, there are expectations that investors may look through the report again, in details, later. Probably, it may happen when another signal indicating the economical growth decline appears.
RoboForex Analytical Department
The Eurodollar is falling slowly on Wednesday afternoon. The current quote for the instrument is 1.1198. It appears that the Euro couldn’t keep yesterday’s wave of enthusiasm.
The daily statistics was quite passive and couldn’t be a catalyst for the main currency pair. So, retails sales in the Eurozone in June remained the same, as expected. On a year-on-year basis, the indicator in June added 1.6%, which is a bit worse than 1.7% y/y in May. In May, the indicator increased by 0.4% against the month before.
For the European Union, retails sales in June reduced by 0.2% m/m (+2.4% y/y).
In general, there is nothing unusual.
Yesterday, there was a feeling that the US Dollar got under expected pressure, because, frankly speaking, last Friday’s statistics relating to the USA GDP in the second quarter wasn’t really noticed by the market and quotes. However, the wave of sales came to nothing as fast as it appeared in the first place. Still, there are expectations that investors may look through the report again, in details, later. Probably, it may happen when another signal indicating the economical growth decline appears.
RoboForex Analytical Department
Attention!
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.