On Friday afternoon, the Eurodollar is being corrected, and investors’ tension is getting weaker on the neutral external background.
The EUR/USD pair is retreating from its local peak. The current quote is 1.1268; the instrument has fallen by 0.4%. Yesterday’s high was 1.1336, and the pair almost reached the top set on February 10th
Hardly there is any statistics today, this week was nervous enough already. Capital markets are still thinking over the results of the March meeting of the USA Federal Reserve System, which made it clear that this year the interest rate would be increased twice, but not four times as it was expected. Everything is too soft and correct, that the market is taking the way of least resistance.
Today, Germany published the statistics on the PPI in February. The indicator has decreased by 0.5% m/m, thus exceeding the predicted number of 0.2%. The indicator has decreased as well by 3% y/y against the predicted number of 2.6%.
It looks like secondary data on the number of vacant jobs in the Eurozone in the fourth quarter was barely noticed by the market at all. Friday evening allows not to respond to the statistics, especially as it was already basically included into the quotes.
RoboForex Analytical Department
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