Trading brokers ; Euro rose on end of week after it was supported by high expectations of inflation in Eurozone

EUR/USD Analysis for trading brokers - 10th May 2017

Euro rose on Friday’s session at the end of week after it was supported by high expectations of inflation in Eurozone. In addition, USD declined after US growth data appeared to be lower than the expectations.

Expectations of Consumer Price Index for April rose in Eurozone from 1.2% to 0.7%; however, the core index is up 1.2% which is the new high in three years while the previous reading was at 0.7%.

Euro recovers beyond its decline which happened yesterday after European Central Bank’s meeting and Daraghi’s, Chairman, statement that it was premature to talk about the effect of withdrawing the stimulus program.

EUR/USD is currently traded at 1.0900 after it had reached its highs at 1.0948. This pair opened today session at 1.0867 while it reached its lows at 1.0858.

Slow Growth of US Economy within Q1

On the other side, USD slumped within today trades as GDP data of US economy was lower than expectations, leading to a hike in Euro.

US economic growth goes in Q1 with the slowest progress in three years while consumer spending slightly increased and companies made investments which are lower than the stock. This is likely to be a setback of Donald Trump’s undertaking to enhance the growth.

US Department of Commerce said on Friday that the GDP was up 0.7% when the Government trimmed the defense spending and this reading was the lowest since Q1 of 2014.

The economy achieved growth of 2.1% in Q4 of last year. Economists surveyed by Reuters expected GDP’s rise by 1.2% within Q4. However, this survey was conducted before the preliminary data about the commodity trade shortage in March and the stock was issued on Thursday. Based on such preliminary data, many economists reduced their expectations about the growth in Q1.

Economists say it is difficult that Trump fulfills his undertaking to increase the annual GDP up to 4% without increasing the productivity.

Consumer spending which constitutes over two thirds of US economic activity is up 0.3% in Q1, which is the slowest growth since Q4 of 2009 and comes after a strong rate of 3.5% in Q4.

To take advantage of our EURUSD analysis, we suggest here some of the best UK trading brokers.

Recommended UK Trading Brokers to trade EURUSD

AVATrade

  • Up to 400:1 Leverage
  • $100 Minimum Deposit
  • Spreads from 0.9 pips
  • Free Demo Account
  • Excellent Customer Service
  • Regulated Firm in EU, AU, South Africa and Japan
100% Bonus up tp $10,000.
Visit Now

AvaTrade is a award-winning broker with over 20,000 customers from around world and $60 billion per month in trading volume.  Read Avatrade UK review.

Markets.com

  • Safe Trading with a Regulated Broker
  • £25 Free No Deposit Required ( T&C apply )
  • Minimum Deposit only $100
  • Free £100,000 demo account
  • Free e-book, personal training and online webinars
  • Over 2,000 Assets to Trade
  • Low Spreads from 2 pips
  • Islamic accounts
£25 Free Not Deposit Required ( T&C apply )
Visit Now

Markets.com is one of largest trading brokers in Europe. It’s fully authorised and regulated by CySEC and FCA registered. Read Markets.com UK review.

Mohammed Abdelkhalik

Mohammed Abdelkhalik

Professional Trader and Analyst at TradingBroker.co.uk
Professional Trader and Analyst, economist in Financial and Forex market  since 2004.holds an MBA from the American University in Egypt. Mohammed works as an economic writer and technical & fundamental analyst for many international Forex & Binary Options trading companies in both English and Arabic on a daily basis.
Mohammed Abdelkhalik

Leave a Comment

About Us - Sitemap - Contact Us - Disclaimer- Terms & Conditions - Cookies Policy-
© Copyright 2013-2017. All Rights Reserved. TradingBroker.co.uk - Top UK Forex Trading & CFD Brokers -
tradingbroker.co.uk is owned and operated by Clicking Media Ltd ( company registered in England and Wales, UK )
DMCA.com Protection Status
Use of this site constitutes acceptance of our Disclaimer

Risk Warning: Online trading always holds an element of risk a it's not recommended for all investors or traders. Before deciding to trade you should evaluate your investment goals, your experience and risk propensity. You need to know there is a chance that you can lost some or all of your initial investment therefore you should avoid to invest money that you cannot afford to lose. In case of any doubts we recommend to seek advice from an independent financial advisor. ( check website www.fca.org.uk ) Trade at your own risk.
Disclaimer: The information contained within Tradingbroker.co.uk is only provided as general market commentary, and it’s for general information and educational purposes only, and it’s not intended to provide financial advice, nor is it an offer or solicitation of any kind to buy or sell any investment products
TradingBroker.co.uk has financial relationships with some of the products and services mentioned on this web site, and may be compensated if consumers choose to click these links in our content and ultimately sign up for them. For more information please visit our disclaimer web page Read Full Disclaimer