Things Don't Ever Seem to Change in Europe as the Economic Data Keeps Disappointing - Forex News by Strategia Forex

Things Don’t Ever Seem to Change in Europe as the Economic Data Keeps Disappointing

Posted Monday, October 7, 2019 by
Skerdian Meta • 1 min read

The Eurozone economy has been weakening for a long time and the downtrend has been picking up pace as months go by. The public is expecting things to get better, but the situation keeps getting worse and I expect it to continue like that until the global economy starts recuperating.

The factory orders report released last month from Germany showed a big decline of 2.7% for July. That was revised higher to -2.1% today but that’s still a major decline in orders. Today’s report was expected to come in negative again for last month and it did so, but the decline of 0.6% for August was bigger than expectations of -0.4%.

The Sentix investor confidence from the Eurozone has been deteriorating this year, showing the shape of the sentiment among investors. It improved a bit last month to -11 points, from -13.7 in August. But, it was expected to deteriorate further this month to -12.9 points. The actual reading came in softer than expected at -16.8 points.

So, the situation keeps deteriorating in the Eurozone. EUR/USD is a bit lower today, but it’s coming from the USD side mostly.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Yesterday the GBP rallied on the Brexit deal, but today the situation looks uncertain after many UK politicians opposed it
15 hours ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of