EURUSD falls after worse than expected Retail Sales

[RTFX-Trading]

EURUSD falls after worse than expected Retail Sales

What's new:

Euro-zone: February Retail Sales lower than expected at -0.6%, forecast - 0.4%
Euro-zone: February Producer Price index at -0.5%, forecast – 0.5%
Canada: Building permits down to -15.9%, forecast -4.6%

Today:

16:00 US: Employment Trends in March, last 91.0
18:00 US: Manufacturing "Midwest" index in February, last 85.6.

European Session Ranges & Indices:

EURUSD: 1.3558 - 1.3441
USDCHF: 1.1334 - 1.1256
GBPUSD: 1.4958 - 1.4827
EURCHF: 1.5299 - 1.5229
USDJPY: 101.44 - 100.51
Gold: $ 877

Comment:

The EURUSD tested second daily resistance at 1.3580 before retracting to daily pivot at 1.3441. The level to watch therefore for today afternoon is 1.3449 as if it breaks this point a correction towards 1.3401 or lower is expected as we wait for figures on employment trends and the Manufacturing ‘Midwest’ index for February.

The disappointing figures in the Euro-zone led traders to sell the Euro, which fell from 1.358 to 1.3449. The USDCAD reached daily high at 1.2395 as Building permits fell 15.9% in February. The pair is expected to test the first daily resistance at 1.2407


Good Afternoon,

Nicolas Longchamp
RTFX Ltd
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