On Tuesday, EURUSD slowed down its growth, but the outlook remains positive so far.
The major currency pair reached stability on Tuesday morning after yesterday’s growth. The current quote for the instrument is 1.1180.
There will be a lot of numbers today, but investors are highly unlikely to respond to them very actively. For example, France is going to report on the GDP in the first quarter, which is expected to add 0.3% q/q, the same as the quarter before. However, the report may go unnoticed by the Euro, although the expected reading indicates that the French economy isn’t going down the same way the German one is, which is very positive.
Germany, in its turn, will publish the GfK Consumer Climate in May, which is expected to decrease down to 10.3 points after being 10.4 points in April. Such decline is not critical at all, but may be perceived as another indication of problems inside the German economy.
The Euro Area is scheduled to publish a preliminary report on the GDP in the first quarter 2019, which may improve by 0.3% q/q after adding 0.2% q/q in the fourth quarter 2018. In case the actual reading matches market expectations, it will be a good sign for the European Central Bank, which believes it will be better to wait for the moment when the Area’s economy starts operating without any additional support. The Unemployment Rate may remain unchanged at 7.8%. The indicator is improving, but very slowly.
In the evening, the USA will report on the Pending Home Sales in March, which may improve after falling in February. Moreover, there will be the CB Consumer Confidence in April, which may increase up to 126.0 points after being 124.1 points earlier. If it happens, it may support the American currency.