The EUR/USD appears to be recovering mildly after yesterday’s sharp plummet. Moody’s downgraded Greece and Spain’s sovereign debt, pushing the euro to recent lows. The pair fell as low as 1.3780 yesterday before recovering back to the 1.3830 price level. If today’s retail sales and consumer sentiment reports from the US come in as positive as expected, the US dollar could continue its bullishness against the EUR.
Here is a roundup of today’s leading events:
13:30 GMT: USD – Retail Sales and Core Retail Sales
The American retail sales figures are set to be published today at 13:30 GMT and the news could help the USD extend recent bullish gains made against its European counterparts if the reports come as expected. The retail sales reports measure the level of demand for the nation’s goods and therefore its currency.
14:55 GMT: USD – UoM Prelim Consumer Sentiment
The University of Michigan (UoM) Prelim Consumer Sentiment report is a leading indicator of consumer sentiment and consumer spending. It surveys approximately 500 consumers regarding spending, outlook, and optimism regarding the future. If the report comes as expected, or higher, the USD could see some added bullishness before markets close for the weekend.
Other relevant articles you may like
Anton Eljwizat is a Currency Analyst with ForexYard. His experience in writing technical analyses for trading companies such as ForexYard has helped Anton stand out among other analysts. His understanding of technical indicators and chart analysis helps him provide some of the most groundbreaking analysis in the market today. His writings have been published on the ForexYard Trading Blog and affiliate websites. Anton holds a degree in Business Management from Ryerson University as well as a degree in Finance from Centennial College in Canada.
