Breaking News
0

Euro Slide Continues As Investor Sentiment Sours Over Soft Data

By Market Pulse (Kenny Fisher)ForexFeb 11, 2019 06:44AM ET
www.investing.com/analysis/eurusd--euro-slide-continues-as-investor-sentiment-sours-over-soft-data-200386186
Euro Slide Continues As Investor Sentiment Sours Over Soft Data
By Market Pulse (Kenny Fisher)   |  Feb 11, 2019 06:44AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

After posting five losing days last week, the trend continues as EUR/USD has started the week in the red. On Monday, the pair is trading at 1.1307, down 0.13% on the day. It’s a slow day for fundamentals, with no data events in the eurozone or the United States. On Tuesday, the U.S. releases JOLTS Jobs Openings and Federal Reserve Chair Powell speaks at an event in Washington.

The euro suffered its worst week since late September, falling 1.1 percent. Investors responded negatively to disappointing data out of the eurozone and Germany. Eurozone retail sales plunged 1.6% in January, its worst reading since December 2013. German manufacturing reports headed lower, raising concerns about the health of the eurozone’s largest economy. Factory orders slipped 1.6%, a second straight decline. Industrial production declined 0.4%, its sixth decline in seven months. German consumer indicators have also stumbled, raising concerns about the health of the eurozone’s largest economy. CPI declined by 0.8% in January and retail sales plunged 4.3% in December. If the soft numbers continue, the euro slide could continue.

The Federal Reserve does not hold its policy meeting until mid-March, so investors will be left to focus on remarks from Fed Chair Jerome Powell and his colleagues. The Fed raised interest rates four times last year, but economic conditions are very different in 2019. The U.S.-China trade war has dampened global growth and rocked the equity markets. With the U.S. unlikely to replicate the sparkling growth we saw in 2018, the Fed is projecting just two rate increases this year. The markets, however, are predicting no rate moves, and some analysts are even talking about the possibility of a rate cut late in 2019.

EUR/USD Fundamentals

Monday (February 11)

  • All Day – Eurogroup Meetings
  • 11:15 FOMC Member Bowman Speaks

Tuesday (February 12)

  • 10:00 US JOLTS Job Openings
  • 12:45 Fed Chair Powell Speaks

*All release times are EST

*Key events are in bold

EUR/USD for Monday, February 11, 2019

EUR/USD for February 11 at 6:20 EST

Open: 1.1322 High: 1.1330 Low: 1.1297 Close: 1.1307

EUR/USD Technical

S1 S2 S1 R1 R2 R3
1.1120 1.1212 1.1300 1.1434 1.1553 1.1685

EUR/USD showed limited movement in the Asian session and has ticked lower in European trade

  • 1.1300 was tested earlier in support and is a weak line
  • 1.1434 is the next resistance line
  • Current range: 1.1300 to 1.1434

Further levels in both directions:

  • Below: 1.1300, 1.1212 and 1.1120
  • Above: 1.1434, 1.1553, 1.1685 and 1.1803

Original post

Euro Slide Continues As Investor Sentiment Sours Over Soft Data
 
Euro Slide Continues As Investor Sentiment Sours Over Soft Data

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Price Action Guide
Price Action Guide Feb 11, 2019 7:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Learn the perfect way to trade Forex and start making money online. Visit: https://priceactionguide.com/the-perfect-way-to-trade-the-forex-market
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email