U.S. economic data provided a rather large upside regarding Gross Domestic Product on Thursday, after the stronger-than-anticipated growth numbers were published in the States, the USD began to gain strength.
This outcome stirred Forex, including the EUR/USD before going into the weekend and created a slight reversal higher. The European Union will release manufacturing data from Germany and France this week and the numbers are expected to be close to last month’s results. But the U.S. will also release manufacturing data on Tuesday.
While the Fed and ECB both raised interest rates last week as expected, there seems to be a worry about the notion the U.S. economy is stronger than the European Union’s. This fear is creating the notion the U.S. Fed could stay more aggressive than anticipated. Yet, confusing results continue to be published in the U.S. and this week could provide more. On this Friday, the U.S. will present Average Hourly Earnings numbers and this inflation report could cause volatility for the EUR/USD.
The Non-Farm Employment Change numbers will be a major talking point for traders of the EUR/USD this week, but the inflation numbers via the outcome of the wage could prove more significant. A weaker inflation number could help the EUR/USD find buyers.The wide price range of the EUR/USD was rather astounding last week and a sign that financial institutions remain uncertain regarding their Forex outlooks.
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Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »