The euro is being controlled by the "bears"
01.09.2014
The new week started indistinctly for the main currency pair, as the European statistics did not provide any significant support, the investors are waiting for action from the ECB.
The euro is slightly up on Monday, but the "bears" control of the main currency pair still remains in force. Daily Stats from Markit Economics showed that the index of purchasing managers in the euro zone in August dipped to 50.7 points against 51.8 points. A similar release from Germany is also disappointing: the indicator fell to 51.4 points against the preliminary calculation of 52 points.
The same index, but calculated for France, in August fell to the lowest in more than a year, and weak reports were submitted for Spain and the Netherlands.
At the beginning of week Germany issued a final report on the GDP for the second quarter - the economy slipped by 0.2% q/q, but y/y growth is still positive and is estimated at 1.2%.
The US markets are closed today - the country is celebrating Labour Day.
Ahead is an event of the week for the euro/dollar - a meeting of the European Central Bank in the coming Thursday.
It is difficult to overestimate the importance of this meeting, and before the publication of decisions the main pair remains under pressure and within a narrow range.
RoboForex Analytical Department
The euro is slightly up on Monday, but the "bears" control of the main currency pair still remains in force. Daily Stats from Markit Economics showed that the index of purchasing managers in the euro zone in August dipped to 50.7 points against 51.8 points. A similar release from Germany is also disappointing: the indicator fell to 51.4 points against the preliminary calculation of 52 points.
The same index, but calculated for France, in August fell to the lowest in more than a year, and weak reports were submitted for Spain and the Netherlands.
At the beginning of week Germany issued a final report on the GDP for the second quarter - the economy slipped by 0.2% q/q, but y/y growth is still positive and is estimated at 1.2%.
The US markets are closed today - the country is celebrating Labour Day.
Ahead is an event of the week for the euro/dollar - a meeting of the European Central Bank in the coming Thursday.
It is difficult to overestimate the importance of this meeting, and before the publication of decisions the main pair remains under pressure and within a narrow range.
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.