15.10 .2019: EUR weakens against USD while GBP gains ground (EUR, USD, GBP)

15.10 .2019: EUR weakens against USD while GBP gains ground (EUR, USD, GBP)


During the Asian-Pacific trading session investors were cautious in deals on the euro-dollars pair, and this sentiment remained the same in the European session in deals of the EUR/USD pair . However, the trade was far from passive. On the contrary, it was rather active and volatile. The sharp movements of 30 pips are a sign of uncertainty. In the afternoon, the euro-dollar quotes leveled out, and the American currency got the upper hand over its European counterpart, having approached the psychological mark at 1.10. Meanwhile, the German ZEW economic sentiment report was released today. The preliminary estimates showed that the index slid to -22.8 points from -22.5 points. However, the actual reading turned out to be better than expected. Analysts predicted that the business sentiment in Germany would deteriorate to -27 points. The index has been in the negative territory for 6 months in a row, thus signalling that German businesses are getting ready for an economic slowdown. The United Kingdom presented downbeat macroeconomic statistics as well. Today, the labour market data saw the light, and it showed that the unemployment rate rose to 3.9% from 3.8% which came as a surprise for market participants. Besides, the average wages growth failed to meet analysts’ expectations. However, traders paid little attention to this news. The pound-dollar pair continued consolidating near 1.2650. It had hit this level on the back of the recent updates on Brexit. Chief Brexit negotiator Michel Barnier noted a high possibility of striking a deal between Brussels and London. The terms of the deal should be agreed before the 19th of October. Apart from that, comments of the BOE governor also boosted the bullish sentiment of pound traders. He dropped a hint that the interest rate would remain low. That is all for now. We wish you profitable deals and hope that you will get back to our channel to see more videos. Bye for now!

Leave a Reply