The Euro is still on sale. Overview for 01.04.2020
On Wednesday afternoon, bears are still in charge of the major currency pair.
EURUSD is falling on Wednesday. The current quote for the instrument is 1.0940.
Market players are waiting for the statistics, both from the USA and the Euro Area and not expecting to see anything positive in numbers. This is probably the reason why they switch to relatively safe assets, such as the USD/
The statistics published in the morning showed that the Retail Sales in Germany added 1.2% m/m, which is much better than expected, +0.2% m/m. One may assume that it happened due to increased consumption before quarantine restrictions.
The final report on the Manufacturing PMI in the Euro Area in March didn’t show anything special as it went from 44.8 points to 44.5 points. The same indicator for Germany showed 45.4 points after being 45.7 points the month before. There is a slight decline but it’s not critical.
It’s funny that the Unemployment Rate in the Euro Area dropped to 7.3% after being 7.4% in January. Most likely, in the future, the indicator will grow due to the falling economy in the region.
Later in the evening, the USA is scheduled to publish several interesting reports. First of all, it’s the ADP Non-Farm Employment Change in March, which is expected to show 125K after being 183K in February. It will be also interesting to check the ISM Manufacturing PMI, which may decrease down to 46.0 points in March after being 50.1 points in the previous month. However, it wouldn’t be surprising given the circumstances.