The Gross Domestic Product Has Become the Factor of EURUSD Falls

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The EURUSD lost its optimal position last Friday, and today with further drop it updated its position with the price of 1.1702.

However, this position is not such a bad, but it creates the fear that might the EURUSD follows the fallen trend ahead, which not only broke its six months of bullish momentum but also disappointed the financial investors that pretty sure about its ongoing progress.

There are several reason that becomes the reasons for it, and the one of it is the gross domestic product index, which released on July 31, 2020, by the Statistisches Bundesamt Deutschland.

Gross Domestic Product is one of the major news that causes inflationary pressure in the German economy so its bad news does not allow the EURO to keep itself growing against the US dollar.

This month it updated its status with the negative figure of -11.6%, this is not only under the expectation of the economist but it also worsens than the previous month index, that why it badly affected the health of the German economy and also depreciated the EURO.

EURUSD

Well, we ‘re hoping that this is just the temporary fall because we haven’t seen the resistance in front of the price that could trigger the hurdle for its development in the future, in addition, there are the upcoming reports about the Markit services, trade balance, industrial production and Factory order that will be released soon with the optimistic and improved anticipation.

Conclusion

Ignoring the current EURUSD condition, the stock is still available to promote the higher yield of its holders.

 

 

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