Economic Indicators vs. Market Sentiment & Activity indicators: Summary
On the back of shockingly weak Chicago PMI numbers have led the Euro to initially move higher during the earlier trading week above the 1.3150 and pushed the USDx towards the low nearest to the 81.30 basis point levels. Although, consumer confidence rose rose to 68.1 from an upwardly revised 61.9 in March. Economists had expected a reading of 60.8, according to a Reuters poll.
The market is generally convinced that the European Central Bank (ECB) will lower the benchmark rate by 25 basis points, which it did alongside the remarks by Mario Draghi on negative rates which analyst have stated that it was premature to talk about. And the market on the EURUSD have initially stalled as it has been widely expected and even yet have been built-in to the market prices for several days.
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