EUR/USD apathetic post-US, German data, near 1.1430

14
  • The pair paid little attention to US, German data.
  • The greenback stays flat ahead of FOMC.
  • US ADP report surprised to the upside in January.

The mood around the single currency exchanges ups and downs so far today, with EUR/USD navigating a tight range around the 1.1430 region.

EUR/USD now looks to Fed

Spot remains largely unchanged despite US ADP report showed the private sector added 213K jobs during January, beating initial forecasts. Earlier, German advanced inflation figures gauged by the CPI are seen contracting at a monthly 0.8% in January and rising 1.4% from a year earlier.

All in all, the pair is following the sideline theme prevailing in the global markets as we get closer to the key FOMC meeting and Powell’s press conference.

What to look for around EUR/USD

Following the recent ECB event and Draghi’s comments, the central bank is expected to enhance its data-dependency stance in the next months in light of the ongoing slowdown in the region. In addition, the US-China trade talks will also be on the investors’ radar this week ahead of the meeting between US and Chinese officials kicking in today and ending tomorrow. On the more political side, the upcoming EU parliamentary elections (May) should start to grab extra attention in the next weeks, always keeping a close eye to the social scenario in France and Italian political effervescence.

EUR/USD levels to watch

At the moment, the pair is losing 0.02% at 1.1428 and a breach of 1.1413 (21-day SMA) would target 1.1385 (10-day SMA) en route to 1.1326 (200-week SMA). On the flip side, initial resistance comes in at 1.1450 (high Jan.29) seconded by 1.1515 (50% Fibo of the September-November drop) and finally 1.1569 (2019 high Jan.9).


	EUR/USD apathetic post-US, German data, near 1.1430

LEAVE A REPLY

Please enter your comment!
Please enter your name here