EUR June

EUR 17th-21st June Fundamental Report

News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.

EUR Main Focus This Week: 

  • Economic Data Type: Inflation data and trade balance in Europe
  • Server Time: Tuesday, 8:00
  • Quick view: Economic data reading in the European zone is expected to weaken following Germany’s data as the world’s largest undeveloped economy.


  • Economic Data Type: European Zone PMI Data
  • Server Time: Friday, 7:15-8:00
  • Quick view: European market sessions on Friday will feature PMI data readings in France, Germany and the European zone. Growth for the future is expected to be volatile with major concerns in Germany’s declining PMI below 50.

Quick View: Dovish

  • The ECB maintained its benchmark refinancing rate at 0.0%.
  • The next ECB meeting is July 25, 2019.
  • ECB economic focus data is the Consumer Price Index, Gross Domestic Product, and Unemployment.
  • The ECB rejected the interest rate hike in nearly eight years to the second half of 2020 due to concerns over global growth and inflation outlook.

Main Economics Data of ECB

  • The unemployment rate in the Euro area fell to 7.7% in March 2019 from 7.8% in the previous month and under the market expectation of 7.8%.
  • Euro area Gross Domestic Product grew 1.2% year-on-year in the first quarter of 2019, the same rate as in previous periods and in line with initial estimates.
  • The annual inflation rate in the Euro area rose to 1.7% in April 2019 from 1.4% in the previous month and market expectations exceeded 1.6%.

Expected Bias: EUR Bearish

  • The European Commission cut its Eurozone growth forecast for this year to 1.2% from 1.3% in February’s forecast.
  • The PMI’s services and manufacturing survey grew at a slow pace in Germany and the European zone.
  • European zone manufacturing activity contracted for the fourth month in May 2019.
  • The ECB is open to lowering rates if economic growth is weakened and the euro’s rise is pushing inflation.
  • The European industrial zone industrial production slumped.

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