Macro Events: EUR/USD GBP/USD [Video]

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD: German Flash Manufacturing PMI

The European Single Currency depreciated against the US Dollar, following the German Flash Manufacturing PMI release on Friday at 08:30 GMT. The EUR/USD exchange currency rate lost 83 pips or 0.73% , right after the release. The European Single Currency continued trading at the 1.1300 area against the US Dollar.

The Markit released German Flash Manufacturing PMI data that came out lower-than-expected of 44.7, compared to forecast 48. Note, that the German Flash Services PMI was released at the same time with the Manufacturing PMI.

Key comments from Phil Smith, Principal Economist at IHS Markit: "The downturn in Germany's manufacturing sector has become more entrenched, with March's flash data showing accelerated declines in output, new orders and exports. Uncertainty towards Brexit and US-China trade relations, a slowdown in the car industry and generally softer global demand all continue to weigh heavily on the performance of the manufacturing sector, which is now registering the steepest rate of contraction since 2012."

GBP/USD: UK Retail Sales

The British Pound appreciated against the US Dollar, following the UK Retail Sales data released on Thursday at 09:30 GMT. The GBP/USD exchange currency rate gained 11 pips or 0.09% during a minute, right after the release. The British Pound continued trading at the 1.3050 area against the US Dollar.

The Office for National Statistics released UK Retail Sales data that came out better than expected of 0.4%, compare to forecasted negative 0.4%.

Rhian Murphy, the ONS's head of retail sales, said: "Retail sales continued to bounce back in the three months to February with strong increases in fuel sales and online shopping. "

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.