The Euro stopped falling. Overview for 12.05.2017

The main currency pair is trading neutrally on Friday afternoon; it didn’t react to the statistics very actively.

The EUR/USD pair stopped getting cheaper after four consecutive trading sessions of sales and got stabilized close to its two weeks’ lows. The current quote for the instrument is 1.0863.

This morning, Germany published the Preliminary GDP in the first quarter of 2017. The country’s economy expanded by 0.6% q/q, matching expectations. By the way, in the fourth quarter of 2016, the indicator added only 0.4% q/q.

The Final Inflation Rate in Germany in April remained the same as in March, at 0%. On YoY, the CPI expanded by 2% after adding 1.6% the month before. The major contribution to the indicator is made by energy prices – it continues already for several months. Excluding energy prices, the indicator added 1.7% y/y, the food inflation is 1.8%.

In the afternoon, the Eurozone reported on the Industrial Production in March. The indicator decreased by 0.1% m/m, although it was expected to add 0.3% m/m. on YoY, it expanded by 1.9% against the expected reading of 2.3%.

Later today, the market’s attention will be focused on numerous statistical reports from the USA. The country is going to report on the Retail Sales, the Inflation Rate, and the Consumer Sentiment. It’s highly likely that the main currency pair may get more volatile closer to the evening.

RoboForex Analytical Department