The Euro is barely moving. Overview for 05.09.2017

The main currency pair is very inactive; the market is in anticipation of Thursday.

The EUR/USD is barely moving during the Tuesday trading session. Investors are saving their strengths before the September meeting of the European Central Bank, which is scheduled for Thursday. The current quote for the main currency pair is 1.1895.

There was much statistics from the Eurozone today, but investors didn’t respond to it. The Spanish Services PMI decreased up to 56.0 points in August after being 57.6 points the month before. The same indicator in Italy fell from 56.3 points to 55.1 points; in France – from 55.5 points to 54.9 points; in the Eurozone in general – from 54.9 points to 54.7 points. The Services PMI was positive only in Germany, where it increased from 53.4 points to 53.5 points.

As a matter of fact, every number, which is more than 50 points, is positive in this case, so there are no reasons to worry. Although, we should admit that the decrease in the tertiary sector, which should be very busy in August, is no good signal at all.

The Retail Sales in the Eurozone lost 0.3% m/m in July after adding 0.6% m/m in the previous month and against the expected reading of -0.2% m/m. well, this is the answer to the question about the tertiary sector decrease. The sales are falling despite sales event because of the population’s mixed attitude to spending.

But the Euro had no response here either. The market is saving its strengths before the ECB meeting this Thursday, where investors hope to hear any hints at when the regulator is going to close the QE program or any comments about very expensive national currency.

RoboForex Analytical Department