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EUR/USD analysis: Experts expect further decline in retail sales in the Eurozone
According to a report from stock3.com, retail sales in the euro zone fell 0.3 percent month-on-month in September, resulting in a 2.9 percent year-on-year decline. This has implications for the EUR/USD currency pair, which continues to fall from its seven-and-a-half-week high midweek. As a financial expert, a decline in retail sales indicates lower purchasing power and therefore potential economic weakness. This could lead to a reduction in investor confidence in the euro and a fall in the EUR/USD exchange rate. The inflation rate in Germany has also fallen, suggesting that the economic recovery in...
EUR/USD analysis: Experts expect further decline in retail sales in the Eurozone
According to a report by stock3.com, Eurozone retail sales fell 0.3 percent month-on-month in September, resulting in a 2.9 percent year-on-year decline. This has implications for the EUR/USD currency pair, which continues to fall from its seven-and-a-half-week high midweek.
As a financial expert, a decline in retail sales indicates lower purchasing power and therefore potential economic weakness. This could lead to a reduction in investor confidence in the euro and a fall in the EUR/USD exchange rate. The inflation rate in Germany has also fallen, suggesting that the economic recovery in the euro zone may not be as robust as initially thought.
The mentioned support and resistance levels in EUR/USD indicate that investors are uncertain and are looking for clear signals about the future development of the currency pair. This uncertainty can lead to increased volatility and impact the foreign exchange market. It is therefore important for investors to monitor developments closely and adjust their positions accordingly.
Read the source article at stock3.com