EURUSD took a shot a recovering. Overview for 26.05.2020
On Tuesday morning, the major currency pair is growing pretty much, thus providing a signal for possible market sentiment changes.
EURUSD is rising quite quickly on Tuesday morning. The current quote for the instrument is 1,0918.
No significant statistics were published yesterday as the USA had a day off due to Memorial Day. However, today there will be plenty of numbers in the economic calendar to pay attention to.
In the morning, Germany is scheduled to report on the GfK Consumer Climate for June, which is expected to recover up to -19.1 points after being -23.4 points in May. Improvement of the indicator may signal that consumers are ready for removal of quarantine restrictions and that’s a good point for the country’s economy.
Later, the European Central Bank is going to present its Financial Stability Review. No one knows what the regulator will include in the report but it’s very unlikely that it may be something completely unknown to market players. All necessary signals are currently coming from the Euro Area’s finance ministers, who continue discussing a new fund worth 500-600 billion EUR.
In the afternoon, the USA will publish the New Home Sales report, which is expected to show a sharp decline down to 492K in April after being 627K in the previous month. The real estate market clearly has problems due to a several-months-long inactivity of consumers.
Apart from that, the USA is scheduled to report on the Conference Board Consumer Confidence, which may recover up to 87.1 points after being 86.9 points in April. If it’s true, it will be excellent support for the USD.
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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