The main currency pair is trading a little bit upwards in anticipation of new macroeconomic reports.
EURUSD reached stability after the USD strengthened yesterday. The current quote for the instrument is 1.2378.
On Tuesday, the macroeconomic calendar was full of new statistics and investors were quite “sensitive” in their response to all actual readings. In the afternoon, the Euro Area and Germany reported on the ZEW Economic Sentiment numbers in April. In the Euro Area, the indicator plummeted up to 1.9 points after being 13.4 points in March; in Germany – decreased from 5.1 points to -8.2 points. Evidently, the readings are very weak: in the comments, the ZEW said that trade wars in the world were a real problem for some countries, which were forced to decrease both the industrial production and the export.
The statistics published by the USA in the evening was pretty interesting and was able to support the American currency. The Industrial Production added 0.5% m/m in March against the expected reading of 0.3% m/m. Apart from this, there were several reports on the real estate market. The Building Permits in March was, seasonally adjusted, 1.35M, which is quite good; the Housing Starts increased up to 1.32M.
Today, there won’t be any reports from the USA, except for the Beige Book, but the Euro Area may attract investors’ attention with revised numbers on the inflation.
As for the rest, EURUSD may continue trading sideways unless there are some really surprising news from other countries.
Orgin: RoboForex
