Euro consolidates losses near a 19-month low, could fall further in the near term EUR EURUSD $EUR $EURSD
Jerome Powell
himself. The greenback gained additional momentum after the US reported its annualized quarterly growth, as the Gross Domestic Product surpassed expectations in Q4 2021 by printing 6.9%. The positive figure also fueled equities temporarily, as Wall Street recovered all the ground lost the post-Fed decision, although shed indexes trimmed gains heading into the close. The US also reported Initial Jobless Claims, which printed at 260K in the week ended January 14, as expected, while December Durable Goods Orders missed the market’s expectations, down by 0.9% in the month.
On Friday, Germany will release the preliminary estimate of its Q4 GDP, while the EU will publish the January Economic Sentiment Indicator. As for the US, the country will publish December Personal Consumption Expenditures, including the core PCE Price Index, foreseen a 4.8% YoY, and the January Michigan Consumer Sentiment Index.heads into the Asian opening trading near the mentioned daily low, anticipating a bearish continuation despite extreme oversold readings in near-term charts.
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