Some currencies in the European region to this day still seem to experience no major changes. In addition, the Euro currency also continues its rebounding momentum, which it gained from the lowest level at 1.1200. During the two trading sessions, EURUSD continued to gain support after tumbling on Tuesday to 1.1200. This strengthening is due to optimistic news about US trade negotiations with China and several other reports regarding Brexit. So that makes other risky currencies also receive a positive impact.
Even though it looks like it continues to move in a positive direction, the Euro has experienced a decline after the data released from Germany. EURUSD fell towards 1.1250 as factory sector orders in Germany fell by 4.6 percent for February. The actual results of the data also missed far enough from the initial prediction that the factory sector orders were pressed into negative territory. Last January also experienced pressure around 2.1 percent. Reports from the European Central Bank regarding the results of the meeting may be able to move the euro further. From US data, market players and investors expect cuts in jobs.
If seen in general, currently the Euro currency still looks depressed to weaken because the data from the European region is very disappointing. The recent disappointing data releases also increasingly signaled an economic slowdown in the European region. This could drag the patience of the central bank even longer than market expectations.
The greenback looks still going to push the EURUSD pair even stronger because of the downward trend in risk sentiment. Apart from politics, EURUSD will depend also on the European Union Parliament elections later.