Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EUR/USD – Euro Slightly Higher, Investors Await German CPI

By MarketPulse (Kenny Fisher)ForexJul 30, 2018 06:49AM ET
www.investing.com/analysis/eurusd--euro-slightly-higher-investors-await-german-cpi-200334469
EUR/USD – Euro Slightly Higher, Investors Await German CPI
By MarketPulse (Kenny Fisher)   |  Jul 30, 2018 06:49AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

EUR/USD has started the weeks with slight gains. In the Monday session, the pair is trading at 1.1686, up 0.25% on the day. On the release front, today’s key event is German Preliminary CPI, which is expected to climb to 0.4%. In the US, Pending Home Sales is forecast to rebound with a gain of 0.4%, after two straight declines. Tuesday will be busier on both sides of the pond. Germany releases retail sales and the eurozone publishes CPI and GDP reports. The US will publish consumer spending and inflation indicators, as well as CB Consumer Confidence.

US numbers were sharp on Friday, but the dollar couldn’t gain ground against the euro. Advance GDP, the first of three GDP reports in the second quarter, posted a strong gain of 4.1%, just shy of the forecast of 4.2%. This was much stronger than the gain of 2.2% in Q1 and marked the strongest quarter of economic growth since 2014. As well, UoM Consumer Sentiment dipped lower to 97.9 but still beat the estimate of 97.1 points. President Trump took credit for the strong GDP report and claimed that “these numbers are very, very sustainable”. However, analysts are being more cautious in their forecasts, calling for growth in the third quarter of around 2.5 percent.

There were no surprises from the ECB, which made no changes to monetary policy at its Thursday meeting. The main refinancing rate remains at 0.0%, where it has sat since January 2016. In a policy statement, policymakers reiterated that rates would remain at current levels “through the summer of 2019”, and “as long as necessary to boost inflation to the target of just under 2.0%. There has been some discussion as to the exact meaning of “through the summer”, but what is clear is that the ECB plans to keep rates at a flat 0.00% after winding up its bond-purchase scheme at the end of the year. This weighed negatively on the euro, which dropped 0.07% on Thursday. The exact timing of a rate hike will depend on the strength of the eurozone economy and inflation levels – if the second half of 2018 is marked by stronger growth and higher inflation, there will be pressure on the ECB to raise rates earlier rather than later in 2019.

EUR/USD Fundamentals

Monday (July 30)

Tuesday (July 31)

*All release times are DST

*Key events are in bold

EUR/USD for Monday, July 30, 2018

EUR/USD for July 30, 2018
EUR/USD for July 30, 2018

EUR/USD for July 30 at 6:20 DST

Open: 1.1657 High: 1.1691 Low: 1.1648 Close: 1.1686

EUR/USD Technical

S1 S2 S1 R1 R2 R3
1.1434 1.1553 1.1637 1.1728 1.1829 1.1910

EUR/USD was flat in the Asian session and has edged higher in European trade

  • 1.1637 is providing support
  • 1.1728 is the next line of resistance

Further levels in both directions:

  • Below: 1.1637, 1.1553, 1.1434 and 1.1312
  • Above: 1.1728, 1829 and 1.1910
  • Current range: 1.1637 to 1.1728

Original post

EUR/USD – Euro Slightly Higher, Investors Await German CPI
 

Related Articles

Kenny Fisher
Euro Under Pressure, Falls Below 1.04 By Kenny Fisher - May 13, 2022

The euro has stabilized on Friday, after a dreadful Thursday in which EUR/USD fell 1.26%. Russian Announces Sanctions The euro continues to struggle and is trading at lows last...

EUR/USD – Euro Slightly Higher, Investors Await German CPI

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other 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, don’t trash it.

  •           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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. 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.
 
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
Continue with Google
or
Sign up with Email