empty
 
 
16.05.2019 12:31 AM
Euro and aussie suffer from China

This image is no longer relevant

Data from China pointed to a slowdown in the economy. Retail sales, industrial production, investment in fixed assets - all these indicators did not reach the forecast values, and this was significant. It seems that the effect of monetary policy easing in previous months and weeks has not yet had a tangible impact on the economy. It is not excluded that China needs additional incentives - more significant ones.

EUR/USD

Today, quotes of the EUR/USD pair went down to the round mark of $1.12 and began to develop a further retreat. The reasons for the pessimism of the European currency is sufficient both economically and politically. Next week there will be elections to the European Parliament. If euro skeptics get a good result, this will increase concern about the future of the EU.

Recent lending data in the region signals a growing risk of a slowdown in the economy in the near future. An unpleasant surprise on Tuesday came from the indicator of business sentiment in Germany from ZEW. Instead of the expected growth, the indicator returned to negative territory. German business, as a rule, reacts sharply to the escalation of trade disputes. The EUR/USD pair may once again be under pressure in the event of a strengthening of the markets in the safe-haven assets. As a result of this, it can remain within the descending channel from the beginning of the year.

AUD/USD

Since mid-April, the AUD/USD pair has lost about 4%. Weak data from China and continuing concerns about trade wars fuel the downward trend.

The Australian dollar continues its steady plunge into the area of 3-year lows. It should be noted that its fall against the dollar was supported by a large and increased volume, which is an indicator of the strength of sellers among major market participants. In addition, it is necessary to allocate a new resistance level of 0.6958, where a large volume is concentrated. Thus, it is necessary to look at short positions.

Meanwhile, on Thursday morning, traders will focus on data on the Australian labor market, which remains strong. A new portion of good data may slightly ease the pressure on the Australian dollar.

Natalya Andreeva,
Experto analítico de InstaForex
© 2007-2024
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback