European Economic Events Disappoint – EUR/USD Jumps
According to the report released by the Istat, the Italian Monthly Unemployment Rate soared to 10.7%, adding a bearish pressure on the...
Arslan Butt•Monday, April 1, 2019•1 min read
Italian Unemployment Rate
German Manufacturing PMI Disappoints – On the flip side, Germany’s manufacturing sector slumped lower into contraction at the end of the opening quarter. Let us recall, the minimum threshold level to define economic optimism. Above 50.0 indicates industry expansion, below means decrease.
German manufacturing dropped to 44.1. It not only missed the 50 threshold level but also came below economists forecast level of 44.7. The figure is signaling faster decreases in output, new orders and export sales.
So far, EUR/USD has shown a muted impact on this news. In fact, the single currency Euro is getting stronger over the story. The pair has violated the $1.1240 resistance which opens further room for buying until $1.1280.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0
0
votes
Article Rating
Subscribe
Login
Please login to comment
0 Comments
Oldest
Newest
Most Voted
Inline Feedbacks
View all comments
Sidebar rates
HFM
Related Posts
Doo Prime
XM
Best Forex Brokers
