MarketPulse | Mar 15, 2018 06:55AM ET
EUR/USD has inched lower in the Thursday session. Currently, the pair is trading at 1.2363, down 0.03% on the day. On the release front, there are no eurozone or German indicators. French Final CPI edged up to 0.0%, beating the estimate of 0.1%. In the US, unemployment claims is expected to drop to 227 thousand, and the Philly Fed Manufacturing Index is forecast to fall to 23.1 points. On Friday, Germany releases the Wholesale Price Index and the eurozone will publish Final CPI. The US will release Building Permits, Housing Starts and Preliminary UoM Consumer Sentiment.
The eurozone economy continues to improve, but manufacturing indicators for January pointed downwards in Germany and the eurozone. Eurozone Industrial Change declined 1.0% in January, its sharpest drop since December 2016. The estimate stood at -0.4%. Last week, German numbers disappointed. Factory Orders in January plunged 3.9%, worse than the estimate of -1.9%. This marked the second decline in the past three months. This was followed by a decline of 0.1% from Industrial Production, marking a second straight decline. The reading was well off the forecast of 0.6%. The latest numbers are somewhat surprising as the German economy remains very strong, and has led the way as eurozone economy continues to expand.
German Chancellor Angela Merkel was elected to a fourth term on Wednesday, as Germany finally has a government in place, after an inconclusive election in September. However, Merkel will have her work cut out for her in what could be her last stint as leader of the eurozone’s largest economy. Merkel’s stature has diminished after a poor election, and she will preside over a fractured coalition. The vote in the German parliament was 364 to 315. Merkel was forced to give the SDP the finance and foreign ministry portfolios, so we can expect the new government to be more supportive of eurozone integration, including assistance for weaker eurozone members.
EUR/USD Fundamentals
Thursday (March 15)
Friday (March 16)
*All release times are GMT
*Key events are in bold
EUR/USD for Thursday, March 15, 2018
EUR/USD for March 15 at 6:25 EDT
Open: 1.2368 High: 1.2384 Low: 1.2352 Close: 1.2363
EUR/USD Technical
S1 | S2 | S1 | R1 | R2 | R3 |
1.2200 | 1.2286 | 1.2357 | 1.2460 | 1.2581 | 1.2660 |
EUR/USD posted small gains in the Asian session but has given up these gains in European trade
Further levels in both directions:
OANDA’s Open Positions Ratio
EUR/USD ratio is showing little movement in the Thursday session. Currently, short positions have a majority (59%), indicative of EUR/USD breaking out and moving to lower ground.
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.