EURUSD fell for the second day in a row after failing to break above 1.0400 earlier this week.
The EURUSD pair continues its decline, trading at 1.0320 on Wednesday after rejected above 1.0400 earlier in the week.
German manufacturer orders are falling, and the timing couldn’t be worse.
The pair loses much of its initial weekly gains as German industrial orders data for November released. Factory Orders in the strongly industrialized core European country fell 5.4% in November, compared to a 1.5% drop in October. Data could not have come at Given the political campaigns leading up to the German snap elections on February 23, this couldn’t come at a worse time.
President-elect Donald Trump is increasing geopolitical rhetoric on a worldwide scale.
Meanwhile, investors are concerned about President-elect Donald Trump, who is shaking up the geopolitical environment. In a statement issued on Tuesday at Mar-a-Lago, Trump restated his ambition to absorb Greenland, the Panama Canal, and Canada into the United States. Trump also stated again that he will address US interest rates, which are now too high and need to be significantly reduced, according to Bloomberg.
Daily Market Update: Euro continues to fall after disappointing german and eurozone data.
EURUSD pair continues its decline, trading at 1.0320 on Wednesday. German factory orders fell 5.4% in November, compared to an expected 0%. On a yearly basis, industrial orders declined by 1.7%, compared to the 5.7% gain witnessed previous year. in October.
German Retail Sales decreased by 0.6% in November, missing the positive 0.5% expectation. At least the real number is better than the -1.5% seen in October.
December’s French Consumer Confidence came in at 89, a touch lower than the 90 from November.
Eurozone consumer confidence remains unchanged at -14.5 in December, while industrial confidence falls to -14.1, lower than the expected -11.7 and lower than the revised -11.4 in November.
The November Producer Price Index for the Eurozone expected to rise 1.6%, up from 0.4% in October and exceeding the 1.5% consensus estimate.
German Bunds ticked up further to hit a near-fresh six-month high of 2.517%, which is no longer far off from the 2.642% high seen in July last year. European shares modestly positive, outperforming Asian equities, which expected to close in the red on Wednesday.
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