There are a couple of news which ,could have an effect on the euro and the euro traded pairs.The first report that we must follow is the Retail Sales in Germany for February.The data is released by the Statistisches Bundesamt Deutschland and it is a measuring the changes in sales of the German retail sector. It shows the performance of the retail sector in the short term and excludes gas and automotive sales.The predictions are for an increase of 0.7%(-0,8% for January),we believe in this prediction ,because the german inflation data for this month was over the expectations ,and is over the targeted 2.0% inflation.We recommend opening long positions on the major euro traded pairs(eur/jpy,eur/usd,etc.) if the real data is the same as the predictions(or near the predictions) . The next report that could affect the price of the euro is the Unemployment rate in Germany for March. The Unemployment Rate released by the Bundesagentur für Arbeit and published by the German Statistics Office shows , in a percent basis, the amount of unemployed people in Germany, using seasonally adjusted data. The predictions about this report are 5.9% which are identical with February’s data(5.9%).Our team thinks that this prediction could be very close to the genuine data.The german economy is working close to it’s potential,and the unemployment rate is on it’s lowest level since 2002.This makes us think that there won’t be a reduction of the rate.We advice waiting for the report and if the prediction is accurate ,it would be better if you have a glance at our technical analysis. The biggest report that we are waiting for today is the CPI for the Eurozone for March. The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone.The data is preliminary which means that the report is not a 100% accurate,hower we can form our expectations for the final data,and for the inflation in the euro zone.The predictions are for a decrease from 2%(Feb) to 1,8%(March).We do not agree with this prediction because if we look at the CPI for November 2016 the value is 0,6%.The inflation indicator has been rising ever since,and we believe that it will rise again for March,because there aren’t any anti-inflation policies applied for the last couple of months.If our predictions are accurate ,we advice opening long positions on euro versus all the other major currencies,but if our prediction doesn’t meet the genuine data,we recommend opening short positions.
Comment:
eurusd next week is bullish