EUR/USD has ticked higher in the Thursday session. Currently, the pair is trading at 1.1272, up 0.10% on the day. In economic news, it’s a busy day. German Preliminary GDP improved to 0.0%, shy of the estimate of 0.1%. Eurozone Flash GDP posted a second successive gain of 0.2%. On the employment front, eurozone flash employment change edged higher to 0.3%, above the forecast of 0.2%. In the U.S., the markets are braced for a slowdown in consumer spending. Retail sales and core retail sales are expected to dip in January, with readings of 0.1% and 0.0%, respectively. PPI is forecast to post a gain of 0.1% and preliminary UoM consumer sentiment is expected to climb to 93.3 points.

Economic activity in the eurozone remains weak, underscored by GDP releases in the fourth quarter. German Preliminary GDP was flat at 0.0%, after a decline of 0.2% in the third quarter. The eurozone’s largest economy managed to avoid a technical recession, which is two consecutive declines in quarterly growth. Germany’s manufacturing industry is limping, with factory orders and industry production posting declines in December. Eurozone Flash GDP remained stuck at 0.2%, shy of the forecast of 0.3%. On an annualized basis, fourth quarter growth was 0.9% in Germany and 1.2% in eurozone, both weaker than the third quarter numbers. If eurozone and German data continues to sag, traders can expect the euro to lose ground in the near term.

The U.S-China trade spat has triggered a slowdown in China’s economy, which has dampened global growth. There was positive news on Thursday, as China announced that exports had jumped 9.1% in January on an annualized basis, compared to the forecast of -3.2%. This was a strong rebound from December, when exports fell 4.4%. Despite these rosy numbers, the outlook for global growth remains weak. Much will depend on whether there is a breakthrough in trade talks between the U.S. and China. President Trump has said that he could suspend the March 1 deadline to impose new tariffs on China, if the negotiations continue.

New Zealand gives US dollar birds

Trade talks progress a big boost for sentiment

Brexit: What will happen in the British parliament on February 14?

 

EUR/USD Fundamentals

  • 2:00 German Preliminary GDP. Estimate 0.1%. Actual 0.0%

  • 2:00 German WPI. Estimate 0.3%. Actual -0.7%

  • 5:00 Eurozone Flash GDP. Estimate 0.2%. Actual 0.2%

  • 5:00 Eurozone Flash Employment Change. Estimate 0.2%. Actual 0.3%

  • 8:30 US Core Retail Sales. Estimate 0.0%

  • 8:30 US Retail Sales. Estimate 0.1%

  • 8:30 US PPI. Estimate 0.1%

  • 8:30 US Core PPI. Estimate 0.2%

  • 8:30 US Unemployment Claims. Estimate 225K

  • 10:00 US Business Inventories. Estimate 0.3%

  • Tentative – US  Mortgage Delinquencies

  • 10:30 US Natural Gas Storage. Estimate -79B

  • 5:00 Eurozone Trade Balance. Estimate 15.6B

  • 8:30 US Empire State Manufacturing Index. Estimate 7.1

  • 10:00 US Preliminary UoM Consumer Sentiment. Estimate 93.3

EURUSD

Open: 1.1261 High: 1.1295 Low: 1.1249 Close: 1.1272

 

EUR/USD Technical

S1

S2

S1

R1

R2

R3

1.1046

1.1120

1.1212

1.1300

1.1434

1.1553


In the Asian session, EUR/USD posted small losses but then recovered and moved higher. The pair is showing stronger movement in European trade

  • 1.1212 is providing support

  • 1.1300 is a weak line

  • Current range: 1.1212 to 1.1300

Further levels in both directions:

  • Below: 1.1212, 1.1120 and 1.1046

  • Above: 1.1300, 1.1434, 1.1553 and 1.1685

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.

Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD: Inverted hammer on daily chart highlights 50-day SMA, 38.2% Fibo.

EUR/USD takes the bids to 1.1050 during early Friday. The pair formed an ‘inverted hammer” candle while following the daily chart, which in turn favors the upside towards 1.1110/13 resistance-confluence.

EUR/USD News

GBP/USD: 3-week-old resistance-line questions 100-DMA breakout

Successful trading beyond 100-day simple moving average (DMA) fails to lend much strength to the GBP/USD pair as it struggles around 1.2520 during Friday morning. A rising trend-line since August-end, seems to challenge buyers.

GBP/USD News

USD/JPY: Bears eyeing break below 107.45

USD/JPY trades modestly flat, with the bias leaning to the downside, as we wind down into the close for the week following a data-heavy number of sessions which have left more questions unanswered and the outlook murky. 

USD/JPY News

Markets unmoved by Fed cut and pause

The Federal Reserve’s latest twist in monetary policy, reducing the fed funds for a second time in two months and then pausing for instructions has left markets without a clear direction on interest rates. Equites ended mixed.

Read more

Gold holds on to recovery gains amid trade/political pessimism

In addition to bouncing off multi-month-old rising trend-line, Gold gains support form recently downbeat trade/political headlines while taking the bids to $1,500 during Friday’s Asian session.

Gold News

Forex Majors

Cryptocurrencies

Signatures