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.
American consumers rang in the new year with a bit of an increase in spending. Some measures of discretionary spending were sluggish, while there was also a downward revision to the previous month’s data.
Headliner retail sales grew 0.3% on the month in 2020 up from a revised 0.2% previously. The data, however, failed to prop up the market sentiment.
Eurozone Flash PMI’s Rise Slightly in February
The forward-looking flash PMI data for the eurozone covering the services and manufacturing sector beat estimates by a small margin.
Data from IHS Markit showed that services activity rose to 52.8, while manfuacturing activity grew to 49.1. There was a notable pick up in the manufacturing activity from Germany.
EURUSD Rebounds but Will it Hold?
The common currency finally reversed the losses, closing on a bullish note on Friday. The rebound coincides amid signs of the EURUSD forming a bottoming patter...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.