EURUSD continues plunging. Overview for 29.05.2019


The major currency pair remains under pressure while investors are trying to avoid risks. 

EURUSD remains under close attention of bears on Wednesday morning. The current quote for the instrument is 1.1163.

Yesterday, greenback was supported not only by investors, who were trying to avoid risks. The statistics published in the evening were pretty good. The CB Consumer Confidence increased up to 134.1 points in May after being 129.2 in April and against the expected reading of 130.1 points. The components of the report show that the Present Situation Index went from 169.0 points to 175.2 points, which is a very good signal for the USD based on stable job gains. 

The macroeconomic calendar is still rather empty. In the morning, France is scheduled to publish a revised report on the GDP for the first quarter 2019, which is not expected to show any changes. However, this report is quite neutral for the European currency. In the afternoon, the ECB will release the Financial Stability Review, a rather neutral document. Also, the German Bundesbank President Jens Weidmann is going to speak.

In the evening, the USA are going to report on the Richmond Manufacturing Index in May, which is expected to increase up to 6 points after being 3 points the month before. However, the report is very unlikely to be a strong catalyst for EURUSD.


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.