The euro opened the week without excitement

March 23, 2015

On Monday morning, the main currency is trading around the 1.08 mark, there is no important statistics today, and the market prefers not to be overly active.
On another March Monday, the single European currency is trading steadily in tandem with the US dollar. The market participants still mainly focus on the soft attitude of the Federal Reserve on interest rates.
Investors previously opened a large number of long positions in the dollar due to expectations that the Fed in mid-summer 2015 will start the growth phase of the interest rate, thereby increasing the spread between the interest rates of the Fed and the ECB.
Last week, Janet Yellen, the head of the Federal Reserve, according to the results of the March meeting noted that an expensive dollar prevents revenue growth for companies, exporters, and is exerting pressure on the parallel conjugate number of sectors. In this light, the Fed will probably prefer to wait some time before raising rates.
The market was not ready for such a turn of events - at the moment, the euro rose 400 points, and later corrected, but the fact remains that the main currency pair has moved away from the "bottom" of the last twelve years.
Today, the market participants will be waiting for the speech from the head of the European Central Bank Mario Draghi and the outcome of the meeting with Angela Merkel and Mr. Tsipras. The macroeconomic statistics calendar for Monday is not overfilled: sales data for second homes in the US in February and report on consumer confidence in the euro area in March.
 
RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

February 20, 2017
What is the next target for the UK?
The dramatical event looms large for Pound, which can sweep the British currency off its feet – the official exit from the EU. The Prime Minister Theresa May said that the process can be initiated as close as possible to the EU summit in Brussels, scheduled to take place on 9-10 March...
February 20, 2017
Gold remained around its recent peaks
Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels...
February 17, 2017
NZD looks to weaken
The New Zealand dollar has found itself under pressure in recent days as the market has started to hedge a little while it waits on the next steps for the US economy...

Vantage FX Rating
Tickmill Rating
Cms Trader Rating
Larson&Holz IT Ltd Rating
EXNESS Rating
 FXTM Rating

Empire Option Rating
365BinaryOption Rating
OptionRally Rating
TopOption Rating
Binary.com Rating
TropicalTrade Rating