On Thursday, the main currency pair is “gaining weight” slowly, but the trading activity is below the average – the ECB meeting is up ahead
The Euro is slowly strengthening against the US dollar, but probably, the main activity is ahead. The ECB meeting is going to take place today, and although the question of the interest rate is quite clear – it will remain the same – investors are waiting for the comments on the effectiveness of QE, the program of motivation.
At the moment, the Eurodollar is trading at 1.1239.
This afternoon, the data on the Euro zone was published. The PMI index in the service sector in the region in august has increased up to 54.4 points against the predicted number of 54.3. The similar data was released by Germany: the number has increased up to 54.9 against the predicted 53.6. France published the same data and disappointed: last month the Index dropped to 50.6 points against the predicted 51.8.
Investors almost didn’t react on this statistical data, probably saving strengths for a “push” in the late afternoon.
Also, today they will publish weekly report on the number of Initial Jobless Claims in the USA. On Friday, we expect reports on NFP and The Unemployment Rate. The end of the week is going to be quite uneasy.
RoboForex Analytical Department