EUR/USD steadies on the week's first session

Euro (EUR) tilted near the higher during the Asian session witnessing its bounce on the third session since 26th of June, 2017. After the speech of the Chair of the Federal Reverse, jerome powell, in New York and with the Economic data and developments awaiting to come on Monday from the American Economy, the world's largest economy by nominal GDP.

The Euro rose against the Dollar by more than 0.1%, trading at $1.1233, the opening price of $1.1231, the highest at $1.1238 and the lowest at $1.1223. We'd like to mark that the pair's last week trading ended at $1.1232 before the start of this week's trading on a bearish price gap

The markets are currently looking ahead to Germany's biggest economy for the Industrial Production Index, which could reflect a 0.4% rise from 0.4% in December, while the index's annual reading may shrink to 3.3% from 3.9% With the current account reading, which could reflect a contraction of the surplus to 18.0 billion euros from 21.0 billion euros in December.

This come with the reading of the balance of trade surplus to 15.2 billion euros compared to 13.9 billion euros in December, and investors are currently waiting for the launch of the meetings of the Euro-group in Brussels, attended by the President of the Euro-group and the Finance Ministers of the member countries of the Euro-area, Economic, Monetary and ECB portfolios that discuss many financial issues such as Euro support mechanisms and government financing.

On the other hand, we have followed the Governor of the Federal Reserve, Jerome Powell, this week in a 60-minute program during CBS's interview discussing interest rates and economic expectations as well as financial stability. Powell noted that US President Donald Trump "He can not dismiss him," while avoiding directly commenting on Trump's strong criticism of the Fed's policy.

Powell also said that the Federal Reserve's policy of patience and monitoring of economic data that will determine the decisions and directions of the next Federal Commission is appropriate now, adding that the interest on federal funds is "almost neutral" and still believes that the US economy is strong despite the fact that he addressed the weakness of the global economy and intentions because it may hit the economy of his own country, explaining "I can say that there is no reason not to continue this expansion in the economy."

Despite this being said, investors are currently waiting for the US economy to reveal a reading of the retail sales, which accounts for about half of consumer spending, which accounts for more than two/thirds of US GDP, which may reflect stability at zero levels versus a 1.2% drop in December, while The core reading of the index itself may show a rise of 0.4% against a decline of 1.8%, before we see the reading of business stocks, which may show a rise of 0.6% compared to 0.1% decline in November.