EUR/USD Fundamental Analysis: April 16, 2018
Missile launch directed to the specific target in Syria from the U.S. and their allies although the effect is not that big impact. Last week, there are topics regarding the possibility of a war between the U.S. and Syria. The situation is worsening that resulted in choppiness in the market.
A lot of investors has become anxious because of choppiness and the market has become more appealing. Hence, the trend was seen to have consolidated and trades in a range. The attacks over the weekend were said to be from the United States. On a lighter note, this is just for short-term which happened one time that cooled down concerns about a war. This has largely calmed down the market that is reflected in the market in the present condition.
Euro has been trading in a range for a number of weeks already and the tendency to break out in any direction is not clearly visible at this time. Although, there are breakout attempts on either side but did not come out with anything due to uncertainties caused by various factors including the area of Syria, the trade war between China and the U.S. as well as, the QE program.
For today, the retail sales data from the U.S. is unexpected to be released today as the first day of the week. Nonetheless, there is a slow data for today. Excluding the geopolitics concern, this data is anticipated to be more appealing that could initiate the trend for short-term.
Andrea ForexMart, Official Representative