The main currency pair is falling on Monday, but this decline is unmotivated so far, without any news and catalysts.
Late March and early April were too “moving” time for the currency market, so it’s rather naturally that on Monday trading floors are quiet. The main currency pair is falling a little bit after moving upwards earlier. The current quote for the instrument is 1.1366.
Today, the Eurozone published several macroeconomic indicators that may seem interesting. The producer price index in February decreased more than expected, up to -0.7% m/m against the predicted number of 0.6% m/m. On a year-on-year basis, the indicator dropped by 4.2% against the expected number of 4%. It looks like this not very pleasant statistics is closely connected with insufficient inflationary potential in the region.
Employment market in the Eurozone remains stable, and this alone is really good. According to the published data, the unemployment level in February in the region decreased up to 10.3% against the number in January of 10.4%. The total number of unemployed decreased by 39 thousand people and now is 16,634 million people.
Certainly, statistics from Eurostat is positive, but the rate of unemployment decline isn’t big enough, and impacts on business is already close to the maximum. The problem of unemployment should be solved in some other way, but European authorities aren’t ready for it yet.
Right now, the currency market is dead calm, and if the informational flow doesn’t bring any dramatic news, this calm may stay until the middle of the week.
RoboForex Analytical Department
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