The euro/dollar stays neutral
08.06.2015
On Monday, the main currency pair is trading slowly, although there is more than enough news.
The euro met the second week of the June neutrally. The current rate of the EUR/USD pair is 1.1138. The sales from Thursday and Friday last week have not yet continued, but the open question with Greece and not the most transparent situation with QE from the ECB leaves a potential for a reduction.
This morning, a lot of European statistics were published. Germany introduced the report on industrial production in April, which grew by 1.4% y/y. Monthly the index added 0.9% with a growth forecast of 0.5%. The country's trade balance for April was 22.1 billion euro, the balance of payments is estimated at 19.6 billion euro.
The trade surplus in Germany is a positive signal, especially as the indicator in April was the most powerful of all the time since this parameter was monitored. Amplification was due to export growth. In April, exports gained 1.9% m/m. Imports, in turn, fell by 1.3% m/m.
In fact, the German reports themselves are very strong. But this, for the restoration of Europe's economy, of course, is not enough. More than once the story was repeated when the statistics came out strong in Germany, the forecasts for the euro area were immediately reviewed with an increase, but a couple of months later it turned out that Berlin can not afford to drag on 17 more economies.
Later the data on the euro zone came out. The indicator of investor confidence from Sentix institute in June amounted to 17.1 points vs. 18.7 points. Not a good report, but not all is smooth with the mood in the Old World.
RoboForex Analytical Department
The euro met the second week of the June neutrally. The current rate of the EUR/USD pair is 1.1138. The sales from Thursday and Friday last week have not yet continued, but the open question with Greece and not the most transparent situation with QE from the ECB leaves a potential for a reduction.
This morning, a lot of European statistics were published. Germany introduced the report on industrial production in April, which grew by 1.4% y/y. Monthly the index added 0.9% with a growth forecast of 0.5%. The country's trade balance for April was 22.1 billion euro, the balance of payments is estimated at 19.6 billion euro.
The trade surplus in Germany is a positive signal, especially as the indicator in April was the most powerful of all the time since this parameter was monitored. Amplification was due to export growth. In April, exports gained 1.9% m/m. Imports, in turn, fell by 1.3% m/m.
In fact, the German reports themselves are very strong. But this, for the restoration of Europe's economy, of course, is not enough. More than once the story was repeated when the statistics came out strong in Germany, the forecasts for the euro area were immediately reviewed with an increase, but a couple of months later it turned out that Berlin can not afford to drag on 17 more economies.
Later the data on the euro zone came out. The indicator of investor confidence from Sentix institute in June amounted to 17.1 points vs. 18.7 points. Not a good report, but not all is smooth with the mood in the Old World.
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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.