The Euro is back to growing. Overview for 06.09.2017

The main currency pair has been rising slowly for the fourth consecutive trading session, but investors are still not very active.

The EUR/USD is getting a little bit more expensive on Wednesday. The current quote for the instrument is 1.1942.

After being corrected for several trading sessions in a row and moving away from the two and a half years’ highs, the EUR/USD is regaining its positions. It happens with no big volumes or high activity from investors. The market, like yesterday, is saving its strengths before the ECB meeting on Thursday.

Today’s statistics showed that the Factory Orders in Germany lost 0.7% m/m in July. This number was an unpleasant surprise for the market despite the fact that the indicator didn’t change much on a year-on-year basis (5.0% against 5.1% the month before). The problem was a domestic demand: the component lost 1.6% while new orders from the Eurozone were down by 1.0%.

The Retail Sales in Italy lost 0.2% m/m. This is another piece of the puzzle that summarizes disappointing results of the month, which is considered as one of the active months for consumers. Something strange is happening to the Retail Sales in the Eurozone this year, and it’s not only about the local population, because tourists spend less money as well.  

In the evening, one should pay attention to the US Trade Balance and the ISM Non-Manufacturing PMI reports.

RoboForex Analytical Department