EURUSD on Wednesday rose 0.03% to 1.08430. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.03%	3.1 Pips
Week to-date	0.78%	84.2 Pips
March	2.55%	269.4 Pips

Upcoming key events (London Time)

Thu 01:00 PM EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar flash
Thu 01:30 PM USD GDP Annualized | Q4
Fri 07:00 AM EUR Retail Trade Turnover (12-mth) | Feb
Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar flash
Fri 10:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar flash

What happened lately

📆 🇺🇸 USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January. Source
📆 🇩🇪 EUR Gfk Consumer Confidence Survey | Apr in April exceed forecast and improved to -29.5 points compared to previous figure -30.6, revised from -30.5 points in March. GfK
📆 🇩🇪 EUR ifo Current Assessment | Mar in March exceed forecast and rose to 95.4 points compared to previous figure 93.9 points in February. ifo Institute
📆 🇩🇪 EUR ifo Business Climate | Mar in March exceed forecast and rose to 93.3 points compared to previous figure 91.1 points in February. ifo Institute

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.03% to 1.08430. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08162 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08713 or trades above daily pivot 1.08438. While to the downside, the daily low of 1.08170 and 1.08162 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08713 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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U.S. International Investment Position, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis
In March 2023, household confidence has worsened again slightly Source: INSEE
In March 2023, the business climate in retail trade and in trade and repair of motor vehicles as a whole has deteriorated Source: INSEE
In March 2023, the business climate in France has faltered a little and the employment climate is stable Source: INSEE
In March 2023, the business climate has slightly rebounded in wholesale trade Source: INSEE
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
In March 2023, the business climate in manufacturing industry has slightly folded Source: INSEE
In March 2023, the business climate in the building construction industry has deteriorated slightly again Source: INSEE
In March 2023, the business climate has deteriorated slightly in services Source: INSEE
In 2022, the public deficit reached 4.7% of GDP, the public debt 111.6% of GDP Source: INSEE
At the end of Q4 2022, the Maastricht debt accounted for €2,950.0 billion Source: INSEE

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