EUR Hitting Its Two-Week Low: Market Review, 28/03/2019

28.03.2019

The major pair is slightly correcting Thursday morning after the previous selloff, but the chances for a good bounce are scarce. The pair is currently trading around 1.1254. The important news for EUR/USD are being released later today.

The US will publish the final Q4 GDP data; the analysts expect it at 2.40% QoQ, which is less than the previous reading. This may signal that the US economy slowed down by the end of last year because of consumer activity drop, which led to a plunge in retail sales. Anyway, the GDP not meeting the expectations will be bad for the USD.

Jobless claims released today are usually neutral, but last week it was especially strong. This time, the indicator is expected at 222K, unchanged, in which case it won't influence the major currency pair.

The pending existing home deals (Feb) are also being released today. This secondary value is expected to rise by 0.10% MoM compared to a 4.60% jump in Jan. This looks very much weak. As a rule, this report is very mixed, as it counts the change in number of home contracts that are signed but still not paid. It is a kind of a leading indicator in the real estate market. Being not positive now, it brings risks for the dollar.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.