The Euro is trying to find support. Overview for 29.08.2019

The major currency pair slowed down its decline again; all eyes are on the statistics.

On Thursday morning, EURUSD is making another attempt to keep balance and avoid freefall. The current quote for the instrument is 1.1083.

Today, market players will be focused on statistics. In the morning, they should pay attention to the Unemployment Change in Germany for August: it may well be that the indicator will increase. Not to say it’s too negative for the European currency, but there is nothing good in it as well. 

In the afternoon, the USA is scheduled to publish the revised GDP report for the second quarter. The indicator is expected remain the same in comparison with the preliminary reading at +2.4% q/q. Any deviations from market expectations may force investors to be more active. 

It will be interesting to check the preliminary report on the Wholesale Inventories in July, which may add 0.2% m/m. If actual and expected reading s match, it will be a good signal for the USD. Apart from this, there will be another interesting report, the Pending Home Sales, which may add only 0.1% m/m in July after skyrocketing by 2.8% in June. The contracts signed in the reporting months are considered to be fulfilled in 4-8 weeks, that’s why this decline will surely influence the real estate market numbers later and that’s an unpleasant surprise. The weaker the indicator, the worse for the real estate market and the USD in the future.