This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

forex technical analysis

In what could be a sign of a turnaround in the US manufacturing sector, the Philly Fed manufacturing index rose to a 3-year high in February. The index jumped from 17.0 in January to 36.7.

A positive reading indicates expansion in the sector. The data also surprised the consensus estimates which forecast a decline to 12.0.

German Producer Prices Rise in January

Producer prices in Germany grew 0.2% on the year in January. This reverses the 0.2% decline in December.

The gains came on a 3.6% increase in durable consumer goods. On a month over month basis, producer prices were up 0.8% after a 0.1% increase in the previous month.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

Is the EURUSD Showing Signs of Bottoming?

The common currency is trading a bit weaker, but the momentum is clearly slowing. Price action remains anchored to the lows at 1.0790 for the past three sessions.

There is a modest increase in the Stochastics oscillator, but this exposes the r...

To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: