During the Tuesday trading session, the main currency pair managed to move in the black; the market is getting rid of “safe haven” assets.
The EUR/USD pair is trading to the upside on Tuesday. The current quote for the instrument is 1.0610.
Today’s statistics showed that the Industrial Production in the Eurozone in February decreased by 0.3% m/m after losing the same the month before and against the expected reading of 0.2% m/m.
The statistics is seasonally adjusted and it makes the reading look even weaker. It’s interesting to note that in February the indicator dropped for Energy and Non-Durable Goods. However, the Durable Goods reading remained the same as in the previous month.
The German ZEW Economic Sentiment in April increased up to 19.5 points after being 12.8 points the month before and the expected reading of 13.2 points. The same indicator, but for the entire Eurozone, in April rose up to 26.3 points after being 25.6 points in March. These reports provided enough support to the Euro.
The NFIB Small Business Index in the USA decreased up to 104.7 points in April and matched the expected reading after being 105.3 points. As a rule, this sector is very sensitive to changes in consumer sentiment, this is why this report should be followed closely.
Geopolitical tensions are slowly easing, but there is no escaping from them. The topic of the USA’s aggressive attitude towards particular countries will show itself in the coming months: the Syrian issue is still on the table, the Russian one is being worked over on, and the country is watching the Asia closely. Under these circumstances, the USD footing is pretty strong.
RoboForex Analytical Department