Euro Stays Steady Amid Lack of Economic Data

Forex News

The European single currency remains stable and is trading at 1.1140 level. Traders expect that the day for the EUR/USD pair will remain calm, as economic data from the euro area are not expected.

The Federation of German Industry (BDI) predicts that Germany's economy will grow by 1.5% this year. At the same time, the growing global demand for German products strengthened the export sector and raised concerns about the protectionist position of President Trump.

Last week, the US data showed that Building Permits fell to 1.17 million, the lowest level since August 2016. Housing Starts also fell to 1.09 million. Analysts suggest that weak construction figures may affect growth of the US GDP in the second quarter.