FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

The Euro continues correcting


24 August 2021

EURUSD is slowly recovering after plunging earlier. The major currency pair is intending to continue its slow recovery. The current quote for the instrument is 1.1732. According to the preliminary data, the Manufacturing PMI in the Euro Area dropped to 61.5 points in August after being 62.8 points the month before. The Services PMI went from 59.8 to 59.7 points over the same period of time. The same indicators for Germany were rather disappointing. The Manufacturing and Services PMIs went from 65.9 and 61.8 points to 62.7 and 61.5 points respectively. 

There is a feeling that European businesses delve into both the demand, which is not very impressive and the global market conditions. Not many social restrictions have been removed and it’s not quite clear right now how the coronavirus situation will evolve in the upcoming autumn with other seasonal diseases. Manufacturers tend to be careful and they are probably right. 

The Consumer Confidence in Europe dropped to -5 points in August, the same as expected, after being -4 points in July. It’s also some kind of a signal that the pandemic continues dictating its terms on the global market. The data from the USA also wasn’t too optimistic. The Markit Flash Services PMI showed 55.2 points in August after being 59.9 points in the previous month. The Markit Flash Manufacturing PMI dropped from 63.4 to 61.2 points over the same period of time. It's quite likely that coronavirus-related concerns did their part here as well. Financial markets continue being very careful: there is a chance that the Jackson Hole symposium will go rather neutral but one shouldn’t exclude a possibility of strong statements.

#source

Related

The Euro is holding the fort
The Euro is holding the fort

EURUSD remains strong in anticipation of the US statistics. The major currency pair is trying to keep its positive momentum. The current quote for the instrument is 1.1604...

15 Oct 2021

Dollar weakness supported risk appetite
Dollar weakness supported risk appetite

The euro rose on Wednesday as the dollar fell after the publication of U.S. inflation data. U.S. consumer prices rose in September as Americans paid more for food...

14 Oct 2021

Have the bulls got what it takes to push Euro to higher ground?
Have the bulls got what it takes to push Euro to higher ground?

The Euro on the H4 time frame was in a bearish trend until 6 October, when a lower bottom was reached at 1.15292. Bulls found the price attractive there and demand...

11 Oct 2021

The Euro managed to strengthen
The Euro managed to strengthen

EURUSD is rising a little bit on Monday afternoon; investors are hoping for a calm trading session. Early in another October week, the major currency pair is slowly growing...

11 Oct 2021

Euro Effectively Recovering
Euro Effectively Recovering

Early in a week, the major currency pair is growing; the asset is trading at 1.1585 and may gain even more weight. The greenback dropped a bit after the USA reported...

11 Oct 2021

EURUSD is trading at 1.1551
EURUSD is trading at 1.1551

EURUSD is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen...

7 Oct 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.