EURUSD Trading in A Range
EURUSD has seen its ups and downs with as market digests developments in Eurozone economy.
US Q4 GDP printed higher than market's expectation at 2.6%, with Composite PMI showing positive outlook for US Q1 growth.
Eurozone's economic indicators are pointing downward, and the market is looking for a bottom for the slowing cycle. February's PMI gives some hope for recovery, with Services Sector showing strength in domestic demands. Manufacturing disappoints and showing contractions. Brexit and political development are weighing on sentiment. Keepng an eye on US Auto Tariff as we have US-China trade talk showing promise of a compromise.
ECB's Policy Meeeting will be the focus for the week.
US Q4 GDP printed higher than market's expectation at 2.6%, with Composite PMI showing positive outlook for US Q1 growth.
Eurozone's economic indicators are pointing downward, and the market is looking for a bottom for the slowing cycle. February's PMI gives some hope for recovery, with Services Sector showing strength in domestic demands. Manufacturing disappoints and showing contractions. Brexit and political development are weighing on sentiment. Keepng an eye on US Auto Tariff as we have US-China trade talk showing promise of a compromise.
ECB's Policy Meeeting will be the focus for the week.
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