|
EUR |
Spanish Services PMI |
44.4 |
45.8 |
45.3 |
|
EUR |
Italian Services PMI |
47.0 |
46.3 |
45.5 |
|
EUR |
Final Services PMI |
47.0 |
46.6 |
46.6 |
|
EUR |
Sentix Investor Confidence |
-15.6 |
-14.6 |
-17.3 |
|
EUR |
Retail Sales m/m |
-0.1% |
-0.1% |
-0.2% |
|
EUR |
French Industrial Production m/m |
-0.9% |
-0.2% |
0.8% |
|
EUR |
French Gov Budget Balance |
-31.0B |
-27.1B |
|
|
EUR |
French Trade Balance |
-4.7B |
-5.3B |
-5.6B |
|
EUR |
German Factory Orders m/m |
2.2% |
-0.4% |
2.2% |
|
USD |
IBD/TIPP Economic Optimism |
45.1 |
47.1 |
46.2 |
|
USD |
Consumer Credit m/m |
8.0B |
16.2B |
18.6B |
|
EUR |
German Industrial Production m/m |
1.2% |
-0.1% |
0.6% |
|
USD |
Crude Oil Inventories |
0.2M |
2.1M |
6.7M |
|
USD |
10-y Bond Auction |
1.81|2.7 |
1.80|2.8 |
|
|
USD |
Unemployment Claims |
323K |
333K |
327K |
|
USD |
Mortgage Delinquencies |
7.25% |
7.09% |
|
|
USD |
Wholesale Inventories m/m |
0.4% |
0.3% |
-0.3% |
|
USD |
Natural Gas Storage |
88B |
80B |
43B |
|
USD |
30-y Bond Auction |
2.98|2.5 |
3.00|2.5 |
|
|
EUR |
German Trade Balance |
17.6B |
18.0B |
17.7B |
|
EUR |
Italian Industrial Production m/m |
-0.8% |
-0.2% |
-0.9% |
|
USD |
Federal Budget Balance |
112.9B |
108.3B |
-106.5B |
Last week EURUSD was influenced in the first part of the week mostly by the German industrial data. The 2.2% growth in the German Factory Orders pushed Euro to the highs of the week. This appreciation was sustained by the Industrial Production which was also above expectations.
Euro did not remain strong for a long time, because the investors sentiment was changed by the labor market data from United States published on Thursday. The unemployment claims dropped at 323 and touched a 4 year low. From this point the dollar started to win more ground.
Not only the dollar gained from this good news, but also the stock market also gained. Dax futures made new historic highs as well as S&P and Dow Jones Industrial. USDJPY broke 100 barrier and 101.00.
At this point EURUSD looks bearish. It closed again under 1.3 after 4 weeks. Next support it is found at 1.2880. It depends a lot on the economic data that will be released in the near future.
Wrap Up 6-10 May EURUSD Down 0.97% by Razvan Mihai
