The Euro
has been under a lot of pressure, especially by the US Dollar and last week we
saw the EUR/USD touch a low of 1.33 Dollars per Euro. Could this pair drop
lower? Well, everything is possible in the financial markets, but currently the
pair stays dependent on the releases of this week’s economic data out of the
Eurozone and the United States. The most important numbers to watch out of the
Eurozone are German Zew economic sentiment for tomorrow at 5 am NYT and German
GDP on Thursday at 2 am NYT. From the U.S. we should keep an eye on Retail
Sales on Wednesday at 8:30 am NYT. The only thing that can keep the EUR/USD
from falling further is that the fundamentals from the U.S. miss expectations
and the fundamentals from the Eurozone come out better than expected.
Otherwise, there are plenty of reasons to see the Euro weaken some more versus
the greenback.
Indeed, only time will tell.
ReplyDeleteEURUSD is in a strong downtrend.
ReplyDeleteThis has been for the better part of three months.
the German ZEW came negative today i think we will see a strong bearish trend once price break the support
ReplyDeleteBig week ahead of us.
ReplyDelete