The euro is waiting
24.07.2015
The main currency pair has fixed below 1.10, and the activity of the instrument is below average. Investors are conserving energy before next week.
On Friday afternoon the euro/dollar is trading sluggishly. More precisely, it’s not even so: investors are not willing to take risks before the weekend, or the July meeting of the Federal Reserve, which will be held on Tuesday-Wednesday next week.
Today's statistics showed that the index of purchasing managers in the euro area in July, according to the calculations of Markit Economics, fell to 53.7 points against 54.2 points in June. These past months have been the highest in four years, and the index has not managed to gain a foothold at this altitude.
PMI index in the service sector in the euro area in July also fell, dropping to 53.8 points against the index at 54.4 points in June. The forecast assumed that the indicator would stay above 54.2 points.
Actually, it turns out that the June surge was just a single share of optimism, despite the perfect summer season for the non-manufacturing sector. In Europe, it is said that there was a noticeably smaller number of tourists this season. It seems that the August statistics will be unimpressive.
It turns out that euro zone GDP for the second quarter moved up by 0.3-0.4%, and no more, although there could have been a stronger increase. For now there is of coarse no official data.
RoboForex Analytical Department
On Friday afternoon the euro/dollar is trading sluggishly. More precisely, it’s not even so: investors are not willing to take risks before the weekend, or the July meeting of the Federal Reserve, which will be held on Tuesday-Wednesday next week.
Today's statistics showed that the index of purchasing managers in the euro area in July, according to the calculations of Markit Economics, fell to 53.7 points against 54.2 points in June. These past months have been the highest in four years, and the index has not managed to gain a foothold at this altitude.
PMI index in the service sector in the euro area in July also fell, dropping to 53.8 points against the index at 54.4 points in June. The forecast assumed that the indicator would stay above 54.2 points.
Actually, it turns out that the June surge was just a single share of optimism, despite the perfect summer season for the non-manufacturing sector. In Europe, it is said that there was a noticeably smaller number of tourists this season. It seems that the August statistics will be unimpressive.
It turns out that euro zone GDP for the second quarter moved up by 0.3-0.4%, and no more, although there could have been a stronger increase. For now there is of coarse no official data.
RoboForex Analytical Department
Attention!
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.