The main currency pair is getting more expensive for the fourth consecutive day, thanks to positive European statistics among other things.
“Anti-Dollar” sentiments of the currency market are still strong. The current quote for the EUR/USD pair is 1.1355.
Yesterday, another meeting of the USA Federal Reserve System ended. All key parameters of the monetary policy remain intact, the interest rate stayed at 0.25-0.50 per annum. The comments of the FRS were quite “guarded”; the interest rate will be increased very slowly. In addition to that, according to the FRS, in the long-term perspective the rate will be lower than expected.
The regulator hasn’t specified any particular periods or other time references, so investors’ expectation that the FRS’ rhetoric would be more specific fell short. The Dollar was and still is under pressure.
The daily statistics on the Eurozone was quite good. According to the European Commission report, the economic sentiment index in the region in April increased up to 103.9 points against 103.0 points in March. Confidence in the industrial sector improved up to -3.7 points against the previous number of -4.2 points. Economic sentiment in the service industry increased up to 11.5 points against 9.6 points in March.
Consumer sentiment increased a little bit as well. The report of the European Commission shows that the indicator improved up to -9.3 points against -9.7 points the month before.
It appears that the Euro is being supported by several aspects at the same time. It’s not strong enough yet to “jump” at 1.14, but who knows how determined the bulls in the EUR/USD pair may be.
RoboForex Analytical Department
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