The main currency pair is not yet ready to renew the six months minimum, but the dollar is clearly tired of standing still.
On Tuesday afternoon, the EUR/USD retreats. For now, the sales are negligible, not exceeding 0.2%, but they are still present. The current quote in the instrument is 1.0728.
Today the Eurozone has not published any meaningful statistics. Among the relatively interesting information worth noting are the comments made by a member of the Governing Council of the European Central Bank, Mr Liikanen, who sees enough risks to the outlook of the local economy. According to him, the Governing Council of the ECB is ready to apply the existing instruments in the framework of its mandate to regulate the monetary conditions if necessary.
In the ECB Liikanen has a reputation as a rather abrupt monetary politician with "hawkish" views. Usually he very clearly articulates his thoughts, but this politician did not recognize the risk of deflation in the euro zone for a long time. Today, he stressed that the inflation target of 2% is seen as symmetrical to other financial goals, but the economy can only respond to low of high inflation, with the same power to influence.
In essence, this means that Liikanen the "hawk" acknowledges little effectiveness of the ECB's monetary policy and will continue to speak out for the expansion of incentives. It seems that by December, these talks will intensify. For the euro, this is a negative factor, of a long-term nature.
RoboForex Analytical Department
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