Thursday, August 11, 2016

EUR/USD ratio is showing slight gains

The euro has posted moderate losses on Thursday, erasing most of the gains seen in the Wednesday session. Currently, EUR/USD is trading at 1.1140. In economic news, French Final CPI declined 0.4%, matching the forecast. Today’s key event is US Unemployment Claims, with the indicator expected to edge higher to 272 thousand. Friday will be busy, with Germany releasing Preliminary GDP, and the US publishing CPI and Retail Sales reports, as well as the UoM Consumer Sentiment report.EUR/USD ratio is showing slight gains in short positions. Currently, short positions have a strong majority (61%), indicative of trader bias towards EUR/USD continuing to move to lower levels.