EUR/USD: fundamentals wrap-up – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that it was a bad day for the greenback this Thursday, as the American currency edged lower all across the board.

Key Quotes:

“After a soft start, the release of some disappointing macro figures, fueled the negative momentum of the currency, sending the EUR/USD pair up to 1.0972, its highest for the week.”

“Services PMI in Germany and the euro area have bettered the preliminary readings for the month of February resulting at 55.3 and 53.3 respectively, whilst the EU Retail Sales surpassed initial forecasts during January, expanding 0.4% on a monthly basis and 2.0% over the last twelve months.”

“In the US, however, news were not that encouraging, as weekly unemployment claims rose to 278K in the week ending February 26, while Factory Orders rose by 1.6%, below consensus and following a roughly 3% decline.

The US ISM Non-Manufacturing Index pulled back slightly in February by printing 53.4, with the employment component falling into contraction territory, quite relevant ahead of the Nonfarm Payroll report, to be released this Friday.”
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Source:: FX Street