EUR/USD: Ignores stronger German Factory Orders data – Scotiabank
Source Fxstreet
German Factory Orders data for December rose a solid 6.9% in the month, versus expectations for a 2.0% gain, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR slips lower on the day
"This data series has been choppy in the past few months and orders for Q4 overall were flat. Still, the late year jump, along with survey data, suggest that the industrial sector may be stabilizing, albeit at a relatively soft level. Tariff risks, energy costs and uncertainties around next month’s election may keep activity trends relatively subdued in the early part of this year."
"Spot peaked just under 1.0450 yesterday. Losses in the EUR since then appear corrective and may extend a little more after the squeeze higher seen earlier this week. Support is 1.0290/00."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ethereum (ETH) climbed above $2,900 on Thursday, mimicking the rally seen in Bitcoin.
Bitcoin (BTC) traded above 4% on Thursday after soaring to a new all-time high above $116,800. The rally, which appears to be leverage-driven, triggered over a $1 billion short-squeeze across the entire crypto market.
The Japanese Yen (JPY) drifts lower against a broadly stronger US Dollar (USD) during the Asian session on Friday.
Dogecoin started a fresh increase above the $0.180 zone against the US Dollar.
Gold price (XAU/USD) is gaining positive traction for the third consecutive day on Friday and approaching the top end of its weekly range amid rising trade tensions.
Related Instrument
