Eurozone still glooming, Euro was the second worst performing currency last week, weakness all day long, barely edging out the British Pound(EUR/GBP +0.03%). Euro weakness were consistently modest elsewhere, with only one pair declining by more than -1% (EUR/CAD -1.27%).
How about other news or fundamental news for break the silence of Euro, there is none of it, But the catalyst for the declines were endogenous to the Euro, with the Q2’2018 Eurozone latest GDP report coming in weaker than anticipated (+2.1% versus +2.4% annualized), yes surely this situation affirming the path of a slow withdrawal of monetary stimulus by the European Central Bank over the next year.
So how about upcoming economic calender, Unfortunately for the Euro, there’s not much for traders to hang their hopes on in order to spark a turnaround or bullish trend in the EUR. The economic calendar over the coming week features zero ‘high’ rated events, and the most important data release is either the June German Factory Orders report (Monday) or the June German Industrial Production report (Tuesday), neither of which has the cachet to move the needle in a meaningful way for the Euro.
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