Saturday, 28 March 2015 10:43

Why Euro Decline Against Greenback This Week?

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In the last 5 days trading session Euro falls 0.89% against Greenback compare with G10 countries currency ranking system by Bloomberg survey system. Greenback was strong on account of U.S economic positive data result in Core retails sales, Core CPI, Unemployment claims.

Euro CPI data was read 0.7% prior 0.8% below 2% of target level. This week DXY Index made high of 81.29 and low of 80.44 and U.S Core retail sales was read 0.7% above expected level, which help Greenback increase strength against major currencies.

In U.S next week we have Unemployment claims and Existing Home Sales expected at 331K and 4.99M. Any data above expectation may support Greenback for short term. However, In Euro zone next week we have German ZEW Economic Sentiment, French and Spanish Unemployment PMI data.

We expect Euro to appreciate by 90-100 pips in next week, as U.S economic data result may not affect heavily to major currencies.

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