EUR/USD Daily Forecast – 24 February

From Eurozone, yesterday, German Business Confidence data was released. German business confidence fell for a third month in a sign that companies in Europe’s largest economy are growing more concerned as slowing global growth roils financial markets. The Ifo institute’s business climate index dropped to 105.7 in February from 107.3 in January. The median estimate of economists was for a decline to 107.0. China’s cooling economy is weighing on global trade and hurting German exporters, with a report Tuesday showing net trade dragged on economic growth last quarter.  Read more...

EUR/USD Daily Forecast – 23 February

Euro was pushed significantly lower in the course of the session on Monday, all the way to 1.10 handle, where it found some amount of support, since that is psychologically important area. The sell-off was mostly due to Brexit concerns. As for tomorrow, we can expect that this will still be of impact on the markets. Pair is likely to find some amount of support around 1.0950 and 1.0930 level in extension, if we see break below 1.10 handle, while area around 1.1080 level which was previously supportive should offer some amount of resistance, at least initially. Read more...

EUR/USD Daily Forecast – 23 February

From Eurozone, yesterday, German and French PMI figures were released. German private sector activity grew at the slowest pace in seven months in February, dampening optimism over the health of the euro zone’s largest economy, preliminary data showed on Monday. The preliminary German manufacturing purchasing managers’ index tumbled to a seasonally adjusted 50.2 this month from a final reading of 52.3 in January, the lowest in 15 months and missing estimates for 52.0. Meanwhile, the preliminary services purchasing managers’ index inched up to a seasonally adjusted 55.1 in February from 55.0 in the prior month. Analysts had expected the index to dip to 54.7. 

German and French PMI fell in February