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forex technical analysis

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.

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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...


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