EUR/USD – Euro ticks higher, Eurozone trade surplus slips

May 16 10:05 2019 Print This Article

EUR/USD continues to have an uneventful week. Currently, the pair is trading at 1.1212, up 0.08% on the day. On the release front, the eurozone trade surplus narrowed to EUR 17.9 billion in March, down from 19.5 billion a month earlier. This was well short of the estimate of EUR 19.0 billion. It’s a busy day in the U.S., with the release of building permits, unemployment claims and the Philly Fed Manufacturing Index. On Wednesday, the eurozone releases consumer spending reports, while the U.S. posts UoM Consumer Sentiment.

The eurozone economy has been struggling, and even the German locomotive has shown signs of weakness. The manufacturing sectors have been hit particularly hard, as the global trade war has dampened the appetite for German and European exports. The U.S. and China have been holding talks to diffuse trade tensions, but President Trump slapped new tariffs on Chinese products, with China quick to respond with counter-tariffs. Investors are worried if the trade war escalates, Trump could target European cars made in China, which would hurt the massive German auto sector. This has led to sharp losses for German automaker listings on the DAX, which include BMW, Daimler and Volkswagen. On Wednesday, the U.S. announced a 6-month moratorium on tariffs on European and Japanese vehicles, but investors will likely remain nervous that the U.S. could impose further trade sanctions against China.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

Schedule for Week of June 16, 2019

The key reports this week are May housing starts and existing home sales.For manufacturing, the June New York and Philly Fed manufacturing surveys will be released.The FOMC meets this week, and no change to policy is expected at this meeting.----- Monday, June 17th ----- 8:30 AM: The New York Fed Em ...

Dollar Rallies Ahead of FOMC Meeting; Markets Await Fed Signal for July Cut

Markets are bracing for updates on tactical trade war positioning and central bank rate decisions.  The dollar’s recent rally stemmed on better than expected economic data that could convince Fed officials that the economy is healthy enough and might not require an immediate rate cut.  US stock ...

OANDA Market Insights podcast (episode 69)

OANDA Senior Market Analyst Craig Erlam joins Jazz FM Presenter Jonny Hart to preview the week ahead and reflect on some of the bigger stories this week. On the agenda this week they discuss where the markets stand now, the Fed meeting, oil price spike, UK leadership race, BoE meeting and UK data. ...

Week Ahead: No Runaway Surge Expected; Markets May Continue Exhibiting Negative Bias

In yet another wide-ranging week, the NIFTY oscillated in a 400-point range and ended the week with a modest cut. In our previous weekly note, we had raised concerned about the NIFTY failing to confirming the attempted breakout.  In line with the analysis carried out during the last week, the inde ...

Southern Energy Corp. Announces Closing of Strategic Asset Acquisition in the Southern United States and $8.1 Million Convertible Debenture Financing

CALGARY, June 14, 2019 /CNW Telbec/ – Southern Energy Corp. (“Southern” or the “Company“) (TSXV: SOU) has completed its previously announced acquisition of high quality, low decline natural gas assets (the “Assets“) in the State of Mississippi for cash consideration of US$16.5 million ...

Across-The-Board Gains For The Major Asset Classes Last Week

Global markets rebounded last week, posting gains in all corners of the major asset classes, based on a set of exchange-traded funds. The broad sweep of positive returns marks the first across-the-board price increases on a calendar-week basis in three months. Leading the way higher: US equities. ...