EURUSD is waiting for the news. Overview for 27.06.2019
On Thursday, EURUSD is quite neutral; investors are waiting for the news from the G-20 summit.
The major currency pair was pretty active on Thursday morning, but then market players switched to the “standby mode” – they are waiting for the news. The current quote for the instrument is 1.1360.
The G-20 summit will start in Osaka today. Market players have high hopes for the event – it is going to feature the US-Chinese meeting with the key topic being their trade agreement, which has been discussed for 6 months. The current global situation is that investors will respond to any pieces of information or news relating to the summit one way or another.
There will be few macroeconomic reports from Europe today. In the afternoon, Germany will publish the preliminary report on the CPI for June, which is expected to remain at +0.2% m/m. The reading in neutral for EURUSD. In the evening, the Euro Area will report on the Consumer Confidence for July, which may go from 0.30 points to 0.23 points.
The USA are scheduled to publish the weekly report on the Unemployment Claims, which may show 220K after being 216K last week.
Also, the USA will report on the Final GDP for the first quarter 2019. Usually, the indicator is revised upwards, but this time it is expected to remain unchanged compared to the previous revision, 3.1% q/q. The stronger the reading, the better for the USD.
Later, investors will be presented with the Pending Home Sales for May. The indicator may add 1.5% m/m and balance its decline in April.
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