Yesterday, the major currency pair was testing the lowest level since June 2017; right now, it is still under pressure.
EURUSD is slowly falling on Thursday afternoon as investors are still quite tensed after the pair reached the lowest level since June 23rd 2017 yesterday. The current quote for the instrument is 1.1155.
The statistics from Germany counted against the European currency. The Ifo Business Climate dropped down to 99.2 points in April after being 99.7 points in March and against the expected reading of 99.9 points. Another indication of complications in the German economy was taken by the Euro very heavily. Obviously, in order to get back to normal, the German economy requires time and calmness on the market. However, these two things are luxury right now.
There are still few important statistics today, but it’s okay for post-Easter week.
One should probably pay attention to the Durable Goods Orders in March, which is expected to add 0.7% m/m after losing 1.7% in February. The Core Durable Goods Orders may add 0.2% m/m after reducing by 0.1% m/m the month before. The indicator is pretty volatile and depends on large objects, such as aircrafts, ships, etc., that’s why it can’t be objective in general. However, its components may provide a lot of interesting information on the demand. The stronger the number, the better for the USD.