EURUSD to Consolidate: Market Review, 26/03/2019
The EURUSD is consolidating Tuesday after previous rise, currently trading around 1.1310. On Monday, the pair was fueled with Germany business activity index rising in march, first time in six months. This calmed the traders a bit down, as they had worried about the German economy slowing down.
There are few EU reports today, and most of them, such as the consumer climate report in Germany, are not very much important. The German report came short of expectations, meanwhile, hitting only 10.40.
The US February housing permits are being released tonight, but this is not going to change anything very much. The housing starts are following, with the expectations of 1.22M compared to 1.23M in Feb. The investors are unlikely to drive much attention to this either.
The Conference Board release, however, may indeed support the dollar, with the forecast of 132.10 against 131.40 in Feb. This indicator is based on much household data and shows how much optimistic are the consumers. With this report in line or beating the expectations, both the US economy and the dollar get the good news.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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