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The euro continues to retreat

07.12.2015
On Monday afternoon, the main currency pair loses half a percentage point, and the euro falls.

The single European currency continues to retreat after the rapid growth in the last week when the ECB decided to extend the QE stimulus program until the end of March 2017. At the same time the interest rate on deposits was -0.30% vs. -0.20% previously. Currently the EUR/USD pair is trading around the 1.0820 mark.

Today's statistics showed that the index of investor sentiment on the euro zone by the Sentix group in December was 15.7 points against the level of 15.1 points a month earlier. With this the report is behind the forecast, which assumes an improvement to 17.2 points. The components of the release state that the current conditions index this month, in contrast, dipped to 13.5 points against 16.0 points the month before.

A separate similar report in Germany shows that the investor sentiment improved in December to 22.7 points versus 20.1 points previously, and the evaluation of current conditions was unchanged at 36.4 points.

At the moment everything in the euro/dollar is going the way it should be - the pair climbed too high and will now gradually move down step by step. Friday's statistics on the employment market in the US for the last month only confirmed the market sentiment about the growth of the interest rate of the Federal Reserve this month. Accordingly, the euro has no prospects for any particular stabilization – the only way is down.
 
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