The Euro started falling. Overview for 29.08.2018

On Wednesday, EURUSD is trading downwards after two trading sessions of growing. The current quote for the instrument is 1.1666.

The numbers published by European countries this afternoon turned out to be rather neutral. The German GfK Consumer Climate is September was only 10.5 points against the previous and expected reading of 10.6 points. The components of the report aren’t impressive: the income expectations dropped from 57.5 points to 52.6 points, while the consumers' propensity to buy – from 56.2 points to 55.2 points. Another index, the expectations regarding general economic situation increased significantly, from 15.7 points to 22.2 points. In other words, signals are rather mixed and prevent investors from making any firm conclusions.

The preliminary report on the French GDP showed +0.2% q/q, the same as expected. The French Consumer Spending in July added 0.1% m/m, the same as in June.

Later in the evening, EURUSD might move more actively due some more reports to be released by the USA. The country is scheduled to publish another revision of the national GDP in the second quarter, which is expected to be 4.1% q/q against the previous estimation of 4.0% q/q. The better the number, the more support it will provide to the American currency.