An unexpected American dollar rally and weaker than expected readings from France fueled weaker sentiments on EURUSD. Previously published stronger readings of Dutch ang Germany retail sales didn't support the European currency. The pair is already slipping more than 0.3%. At the same time, we don't see declines on TNOTE (an increase in yields), but instead the dollar index (USDIDX) is very clearly gaining. Therefore, it can be pointed out that this is partly a move on the euro, but mainly on the dollar.
Readings from France
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GDP QoQ came in -0.1% vs 0.1% expected and 0.1% previously
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Consumer spending came in -0.9% vs -0.2% exp. and 0.2% previously
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HICP inflation came in 3.8% vs 4.2% exp. and 4.5% previously (-3% MoM vs 0% exp. and 0.2% previously)
- CPI Prelim: 3.4% vs 3.7% exp. and 4% previously
EURUSD (M15, H1)
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Create account Try a demo Download mobile app Download mobile appIf we look back on yesterday's EURUSD trading volumes on M15 interval, a bearish domination is clearly visible.
On H1 intreval we can see that EURUSD declines break out a pair from major trend line, and now we can possibly see testing support levels from SMA200 (red line). Falling below 1,09 may be a signal for testing even 1,08 levels.
Source: xStation5
