The main currency pair slowly "sags" for the fourth day in a row, returning to the levels of the beginning of the month.
On the Forex market everything is gradually returning to their former positions. The EUR/USD is gradually reducing, the weak US statistics are already priced in and investors are beginning to re-evaluate the published European statistical data.
As shown by statistics, the volume of industrial orders in Germany in February fell by 0.9% against the forecast of growth by 1.5%. In January of this year, the indicator dipped by 2.6% (revised value), which does not particularly change the overall canvas. At the same time it was reported that retail sales in the euro zone in February fell by 0.2% m/m, after rising in January by 0.9%.
Today's published statistical data is relatively smooth. Industrial production in Germany in February strengthened by 0.2% m/m after expecting growth of 0.1% m/m.
On Thursday, there will be little statistics, and the most interesting reports are scheduled for next week. Overall, the EUR/USD pair is able to descend into the area of 1.0720-1.0750 where is should stabilize in anticipation of new indicators.
RoboForex Analytical Department