The statistics made the Euro move. Overview for 15.05.2018

May 15, 2018

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In the afternoon, the main currency pair started moving more actively based on the published reports from the Euro Area.

On Tuesday morning, EURUSD was pretty calm, because there weren’t any significant reasons to move. However, such reasons may appeared in the afternoon. The current quote for the instrument is 1.1920.

The statistics published by the Eurozone in the afternoon look rather mixed, although nobody expected any surprises. The second estimate of the GDP Growth Rate in the first quarter 2018 was +2.5% y/y, the same as expected. On QoQ, the indicator added 0.4%.

At the same time, the Industrial Production expanded only by 3.0% y/y in March against the expected reading of +3.7% y/y. On MoM, the indicator increased by 0.5%, which may be considered as a god result, but expectations were +0.7%.

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Earlier, Germany also failed the Euro: the country’s preliminary report on the GDP showed +0.3% q/q, which is worse than expectations and the reading of the fourth quarter 2017, 0.4% q/q and 0.6% q/q respectively.

These numbers will influence the market for several more hours, but later investors will switch their attention to the statistics from the USA to be published in the evening. One of the most anticipated reports is the Retail Sales, which is expected to be quite strong and may help the USD to strengthen. .


RoboForex Analytical Department

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.