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01.02.2019: Why investors choose not to sell EUR (EUR/USD, GBP/USD, USD/CHF)

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The sentiment of the euro traders is not clear today as they trade highly cautiously.
The euro/dollar pair is trading in a quite wide range. Currently, when the European trade is about to close, the pair is residing near 1.1470. Meanwhile, the region’s statistics push market participants to sell the euros.
The pace of the growth of the European manufacturing PMI slowed in January primarily due to Germany’s negative dynamic. The manufacturing PMI of the region’s leading economy lowered to 49.7. Notably, the reading went below 50 for the first time since November 2014. Moreover, the index in January turned out to be worse than December’s one.
In the meantime, the eurozone’s inflation data came out. Annually, the pace of consumer prices’ growth slowed to 1.4%. This result matched the expectations.
The British pound seems to be more sensitive to the negative news. Thus, it lost over 60 pips in the European trade. The sharp fall of the pound/dollar pair stopped near 1.3060. Traders are focused on the macroeconomic statistics as there is no news regarding Brexit.
Although, the statistics disappointed the market. The UK manufacturing PMI was 52.8 in January, while experts anticipated 53.5. A slowdown in the pace of the economic indices’ increase raises concerns within traders.
On the other side, another European currency is rapidly firming against the greenback due to the demand for the safe-haven currencies amid the upcoming meeting of Donald Trump and Xi Jinping as well as the world’s situation in general. The dollar/franc pair lost about 40 pips in the European trade approaching 0.9910. However, the consumer confidence and retail sales reports from Switzerland showed the less-than-expected reductions.
Analysts expect the franc to finish the week with gains, while the euro and the pound may get corrections in case the negative forecasts regarding the US labor market get confirmed.

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