Forex news and forex forecasts

15/02/2019 18:00

EUR/USD rebounds after US data

Volatility remains the name of the game so far at the end of the week, as EUR/USD has now advanced to the 1.1280/85 band after briefly recording fresh 2019 lows in the boundaries of 1.1230. Risk-on sentiment remains well and sound in the second half of the week, although the sentiment around the single currency stays depressed amidst the ongoing rally in the buck, all following recent progress from the US-China trade talks. After briefly recording fresh yearly lows in the 1.1235/30 band, spot met a wave of buying orders following the big miss in US Industrial Production, which contracted at a monthly 0.6% in January. Further data saw Capacity Utilization dropping to 78.2% and Manufacturing Production retreating 0.9% inter-month, all prints coming in below previous estimates.