Euro/dollar continues to fall
13.05.2014
On Tuesday evening the main currency pair only deepens in its sales, and it is directly related to the statistics.
Euro/dollar continues to fall on Tuesday, although this morning there was an illusory hope for a rebound. However, the weak statistical data from China did not allow it to turn around at full capacity. Today’s reports on the euro area and Germany deepened the sales even further.
Today it was also revealed that during May the sentiment index in the business environment from ZEW in Germany went down to the level of 33.1 points vs. the predicted 43.2 points. A similar release for the euro area showed that the index fell to a value of 55.2 points vs. the predicted 63.5 points.
The data is simultaneously complex and simple to understand and analyze. Complex - because the gap between the actual value and the forecast figure is too large, easy - because this gap is due to a high a degree of heterogeneity of the European economy, forecasts are indistinct, prospects are vague, and the businesses prefer to wait on the sidelines.
This afternoon the U.S. published statistics also failed to please: retail sales in April rose by only 0.1% against expectations of growth of 0.5%. It is possible that in the components of the report it appears that the fall of the indicator is due to the reduction of sales volumes of cars and tech.
Overall, the situation in the euro/dollar remains minor; the "bulls" are not to be envied. The sales target is the same at 1.37.
RoboForex Analytical Department
Euro/dollar continues to fall on Tuesday, although this morning there was an illusory hope for a rebound. However, the weak statistical data from China did not allow it to turn around at full capacity. Today’s reports on the euro area and Germany deepened the sales even further.
Today it was also revealed that during May the sentiment index in the business environment from ZEW in Germany went down to the level of 33.1 points vs. the predicted 43.2 points. A similar release for the euro area showed that the index fell to a value of 55.2 points vs. the predicted 63.5 points.
The data is simultaneously complex and simple to understand and analyze. Complex - because the gap between the actual value and the forecast figure is too large, easy - because this gap is due to a high a degree of heterogeneity of the European economy, forecasts are indistinct, prospects are vague, and the businesses prefer to wait on the sidelines.
This afternoon the U.S. published statistics also failed to please: retail sales in April rose by only 0.1% against expectations of growth of 0.5%. It is possible that in the components of the report it appears that the fall of the indicator is due to the reduction of sales volumes of cars and tech.
Overall, the situation in the euro/dollar remains minor; the "bulls" are not to be envied. The sales target is the same at 1.37.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.