The EUR/USD is bearish, although still hoping to recover. The pair is currently trading around 1.1236. The German retail sales (Jan) are being released today, and the expectations are not optimistic, being -1% MoM against +3.30% in Dec. Overall, the major EU economy has not been doing very well lately, according to the reports. Moreover, the economic slump may conquer France, too. This is what actually has been pushing the EUR down for a few weeks.
Personal consumer income and spending are being released in the US (also for Jan), with both indicators expected to recover after the plunge in December. Another piece of data is coming from the housing market, where the new home sales in Feb published. The indicator is expected to rise to 625K against the previous data of 607K, which may well support the greenback.
The Michigan consumer confidence is being released tonight, with no changes expected compared to the first reading at 97.80.
Orgin: RoboForex
