The main currency pair had a rather volatile morning, but now it is ready for new fluctuations.
EURUSD has reached stability by Tuesday morning and right now is ready to respond to changes on the market. The current quote for the instrument is 1.1705.
It seems that the statistics from the Euro Area published yesterday didn’t attract any attention from investors, although some of the numbers were quite interesting.
The Sentix Investor Confidence decreased up to 9.3 points in June after being 19.2 points the month before. The indicator was expected to fall, but only up to 18.6 points. The less the number is, the more pessimistic investors, financial analysts, and economists are. However, risks aren’t so serious as long as the index is above zero. Still, this decline wasn’t a good piece of news for the Euro.
This morning, the USD attempted to attack, but not very successful so far. In the afternoon, there will be a lot of statistics from Europe, but not very significant: France, Germany, Italy, and Spain are scheduled to report on the Services PMI. Apart from this, the Euro Area will publish the April Retail Sales report, which may really contain a catalyst for EURUSD. According to market expectations, the indicator may expand by 0.5% m/m in April after adding just 0.1% m/m in the previous month. If the actual and expected readings are the same, the attack of the USD won’t last long.
In addition to that, investors should pay attention to the speech of Mario Draghi, which is planned for 13:00 GMT. No one is sure what he is going to talk about, but he might as well say something related to the QE program. It will be unpleasant for the Euro if Draghi once again informs investors about continuation of the program in case the economy of the region requires it.
Orgin: RoboForex
