The EUR managed to trade in range against the USD on Tuesday as it found some stability. The EUR has certainly been under a dollar centric shadow the past few weeks as heightened talk about a downturn in the U.S. economy has raised eyebrows among investors who are concerned about the implications this has for Europe. The German Unemployment Change number came in below expectations yesterday, but it is their counterparts in the E.U. which have largely caused nervousness. German will release its Retail Sales numbers today and a gain of 0.6% is expected. Tomorrow The ECB will hold it monetary policy meeting and press conference and this will be a key spectrum for investors. The EUR traded under pressure the past few weeks as risk adverse sentiment reemerged and with nervous markets still in the midst, opportunities may exist to test ranges.
Written by bforex.com
