The EUR/USD pair hovers above yesterday’s high 1.1180 levels. The USD remains dwarf this time. EU T-bonds were paving the way ahead for the pair. The massive flow of today’s calendar events may impact. Significant 200-days SMAs traveled below the pair.
The EUR/USD pair opened near 0.1184 levels and continued yesterday’s struggle to climb up. In the Asian session, the pair crossed over 90 pips thereby making a satisfactory look for the traders. During 03:15 GMT, the pair was floating around 0.1193 levels.
Yesterday’s US economic data failed to provide similar support and USD weaken. While the data for the previous week, the US GDP and the Durable Goods Orders reported helped appreciating the American Dollars. The upcoming Wednesday’s Fed’s Interest Rate Decisions may remain crucial to watch.
On the last day, the EUR/USD pair appeared as star currency following the enhancement of European government bond yields. While in the political arena there was no conclusion over the UK’s Brexit and the US-China trade deal. These deadlocks hardly surprised the market today.
The economic calendar weighs pretty high on numerous events (Euro & USD) lined up for the day.
The German March Consumer Confidence Survey Index – The consensus estimates the index to come around 10.4 points.
The KOF Swiss April Leading Indicator – The market stays bearish on the figures, to the previous 97.4 points.
The German April Unemployment Change figures – A lower number is always considered bullish for the EUR/USD. And, the street analysts expect the figures to come 1K below the previous negative 7K.
EMU GDP Q1’19 figures – The QoQ GDP numbers are expected to report 0.1 percent higher to the previous 0.2 percent. On the other hand, the market remains in-line on the YoY GDP numbers.
The German April YoY HICP – The consensus expects the HICP index to report as 1.7 percent, compared to the earlier 1.4 percent.
Feb YoY S&P/ Case-Shiller Home Price Indices – The analysts take a bearish stance on the index expecting it to come around 3.2 percent.
Chicago April PMI – This time, the market believes the number of growing with 0.3 percent.
US March (Both MoM & YoY) Pending Home Sales – The index is awaited to report 1.5 percent higher than the previous negative 1 percent.
The EUR/USD was on track to recovery. The pair was hovering near the upper vicinity of the Bollinger Bands (BB) showing uptrend signals. The significant 200-days SMA recently crossed the 50-days SMA, moving below it. However, the fiber was trading well above all the major SMA revealing bullish legs. The BB was bit contracted, preparing for a burst to the north. The Relative Strength Index (RSI) remained near the over-bought position.
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