here is fallow up of my previous analysis and also what to expect this week!
EUR USD extended its advance on Friday, reaching a high of 1.2189, to close the week with gains around the 1.2170 mark. Market players were left without a clear catalyst, after a dull ECB and mixed macroeconomic data. Markit released the preliminary estimates of its January PMIs, which showed that economic activity contracted further, as the EU Markit Composite PMI came in at 47.5, below the previous 49.1. The services sector suffered the most from the latest lockdown, as services PMI through Europe were below the 50 mark, indicating contraction.
This Monday, Germany will publish the January IFO survey, while the US won’t offer relevant data. The focus shifts to later into the week, when the US will publish the preliminary estimate of Q4 GDP and the Federal Reserve will announce its decision monetary policy.
if tomorrow's data comes better expected look for further bull market on EUR USD
EUR USD extended its advance on Friday, reaching a high of 1.2189, to close the week with gains around the 1.2170 mark. Market players were left without a clear catalyst, after a dull ECB and mixed macroeconomic data. Markit released the preliminary estimates of its January PMIs, which showed that economic activity contracted further, as the EU Markit Composite PMI came in at 47.5, below the previous 49.1. The services sector suffered the most from the latest lockdown, as services PMI through Europe were below the 50 mark, indicating contraction.
This Monday, Germany will publish the January IFO survey, while the US won’t offer relevant data. The focus shifts to later into the week, when the US will publish the preliminary estimate of Q4 GDP and the Federal Reserve will announce its decision monetary policy.
if tomorrow's data comes better expected look for further bull market on EUR USD
