The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Dollar is obviously overbought, so it is not a surprise that it declined on Monday as soon as the Asian session started. However, the correction stopped when the Euro area reported that the 2.0% growth in its industrial sector was replaced by a 1.4% decline. The forecast was only a slowdown to 1.1%.
Industrial production (Europe):
The situation with the overbought dollar was aggravated by the labor market data published this morning in the UK. According to the report, the unemployment rate rose from 3.8% to 3.9%. Pound immediately went down, while euro stopped rising.
Unemployment rate (UK):
Most likely, the market will remain still during the European trading session, especially since the second estimate for the eurozone's 1st quarter GDP is coming. US statistics could be a reason for dollar to weaken, but that will happen only if retail sales growth slows from 2.9% to 1.4%. Industrial production growth decreasing from 0.5% to 0.3% will be a sign that the US is approaching recession.
Retail sales (US):
EUR/USD slowing around 1.0850 triggered a rebound, but did not lead to significant changes. The market is still bearish, so a correction could still happen. However, everything will change if the pair returns above the level of 1.0900.
A similar scenario is seen in GBP/USD. The level of 1.2450 serves as a support on the way of a correction, in relation to which there was a reversal. To see growth, the pair has to stay above the level of 1.2250. Until then, the risk of further decline persists.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
