Lower Eurozone Inflation But The Euro Keeps Climbing - Forex News by FX Leaders

Lower Eurozone Inflation But The Euro Keeps Climbing

Posted Wednesday, May 31, 2017 by
Skerdian Meta • 1 min read

Most of the financial centres were off yesterday so the forex market was half asleep, but today we had a round of economic data from the Eurozone.

Recently, we have seen mostly positive economic numbers from the Eurozone, so I was expecting some positive numbers today as well. But, German retail sales declined by 0.2%, French CPI (consumer price index) barely grew by 0.1%, while the Eurozone inflation report missed the expectations.

So, we can say that the economic data from Europe today was negative. Although, the Euro didn´t mind much. In fact, EUR/USD has climbed about 40-50 pips in the last couple of hours.

It doesn´t make much sense, unless the forex market was expecting worse numbers, which I don´t think was the case because as I mentioned, the economic figures from Europe have been impressive in recent months.

Or perhaps, the market was expecting worse numbers, but whatever the reason, the Euro is much better off, although it has stalled right now just above 112. Our previous sell forex signal in this pair just hit SL, but we´re watching the price action in order to open another signal here.  

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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