EURUSD Bearish: Market Review, 27/03/2019

The EUR/USD attempts to consolidate, but the sellers are still pushing the pair down. The EURUSD is currently trading around 1.1263. The greenback started rising yesterday as the 10-year treasuries corrected and left the 15-month low. This was so powerful a driver that the weak US reports were virtually ignored.

Housing starts released Tuesday revealed a number of 1.16M in February, quite behind the forecast at 1.22 and the last data of 1.27. This means a 8.70% fall, YoY, compared to the adjusted January's data of +11.70%. The number of new single family homes sank even deeper.

Meanwhile, the US consumer confidence fell to 124.10, compared to 131.40 in Feb. The expectations were at 132.10. This is also bad news for the dollar, but the market is being very unpredictable lately.

Today, Mario Draghi, the ECB governor, is having his speech. The topics are unknown, but most likely, Mr Draghi is going to comment on the Eurozone economy or make some hints for its future. In the US, meanwhile, the January trade balance and Q4 current account balance are being released. Most likely, the dollar is not going to react at these data, though.