The Euro chose to stay under pressure. Overview for 15.05.2020
On Friday morning, the major currency pair is falling a little bit; the USD remains in demand.
At the end of another trading week, EURUSD remains under pressure due to some mixed market sentiment. The current quote for the instrument is 1.0804.
The USA is releasing rather mixed statistics, which might have scared investors. However, the situation in Europe also can’t be called very optimistic: most countries remain under quarantine restrictions, which hardly impress anybody.
There will be a lot of interesting numbers today. in the afternoon, the Euro Area will publish the second estimate of the region’s GDP for the first quarter, which is highly expected to show the same reading as the first one, -3.8% q/q. if the actual reading matches the expected one, the Euro may be able to remain stable.
In the evening, the USA is scheduled to report on the April Retail Sales, which may plummet by 12.0% m/m after plunging by 8.7% m/m in the previous month. The Core Retail Sales may show -8,7% m/m after losing 4.5% the month before.
The Industrial Production in the USA may drop by 11.3% m/m in April, which is quite expected, after losing 5.4% m/m in March. The numbers are pretty bad but not surprising: they might have been predicted by business sentiments and factory orders. The Capacity Utilization Rate may go from 72.7% in March to 63.9% in April, which is also quite logical.
If all numbers turn out to be very close to market expectations, the major currency pair will likely continue the current trend – falling slowly but steadily.