EURUSD on Thursday dropped -0.08% to 1.10307. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||0.39%||42.7 Pips|
Upcoming key events (London Time)
Fri 09:00 AM EUR GDP (3-mth)
Fri 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Fri 10:00 AM EUR GDP (seasonally adjusted) (12-mth)
Fri 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
What happened lately
USD Pending Home Sales (1-mth) in March rose to 0.8% compared to previous figure 0.8%.
🇺🇸 Core Personal Consumption Expenditures (3-mth) in Q1 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 4.4% in Q4 Bureau of Economic Analysis
🇺🇸 GDP Annualized in Q1 preliminary estimate below forecast and dropped to 1.1% compared to previous figure 2.6% in Q4 Bureau of Economic Analysis
🇺🇸 In the week ending 22 April, the Initial Unemployment Insurance Claims dropped to 230K compared to previous figure 245K Department of Labor
🇪🇺 Business Climate in April dropped to 0.54 points compared to previous figure 0.7 points in March European Commission
USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Census Bureau
🇩🇪 Gfk Consumer Confidence Survey in May below forecast and improved to -25.7 points compared to previous figure -29.3, revised from -29.5 points in April GfK
What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.08% to 1.10307. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09933 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.10635 or trades above daily pivot 1.10284. Break above could target R1 at 1.10658. While to the downside, we are looking at 1.09933 (S1) and daily low of 1.09910 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09910 would indicate selling pressure.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 0.39% over the past few days.
Key levels to watch out:
You might be interested in:
Gross Domestic Product, First Quarter 2023 (Advance Estimate). Bureau of Economic Analysis
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Advance Retail Inventories. Census Bureau
Advance U.S. International Trade in Goods. Census Bureau
Advance Wholesale Inventories. Census Bureau
New Home Sales. Census Bureau
Household confidence has improved slightly in April 2023. INSEE
In April 2023, the real estate developers’ opinion on the demand for new housing has degraded sharply. INSEE
In April 2023, the opinion of the business managers in civil engineering on their activity prospects is stable. INSEE
In April 2023, personal business outlook has improved in the building craft sector. INSEE
Rise in business births registered in March 2023. INSEE
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