EUR/USD tilts lower for the first time in four sessions

The single currency of the European Union region fluctuated lower during the Asian session against the US dollar on the eve of developments and economic data expected on Wednesday by the Eurozone economies and the US economy, the world's largest economy.

At 04:59 GMT, the EUR/USD dropped 0.04% to 1.1284, compared to the opening at 1.1288 after reaching its lowest during the session at 1.1283, while reaching a high of 1.1290.

The markets are currently looking at Italy's (the third-biggest economy in the eurozone) for a reading of the Unemployment Rate Index, which could rise to 10.5% from 10.2% in the third quarter before we see Germany's Industrial production index reading which might show an increase of 1.0% versus 0.9% in December, while the index annual reading may show a decline to 2.1% from 4.2%.

On the other hand, investors are currently looking for the US economy to reveal the reading of retail sales, which account for about half of consumer spending, and also accounts for more than two thirds of the US GDP, which may reflect a decline of 0.5% compared with a rise of 1.2% in December, while The core reading of the index itself may show growth stability at 0.1%, unchanged from December.

The markets are also looking for the US' to reveal the producers price index (PPI) reading, which is a preliminary index of inflationary pressures, which could reflect a 0.2% expansion versus a 0.1% contraction in January, while the annual reading of the same index may show a slowdown in growth to 1.9% Compared with 2.0% in the previous January reading.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.