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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro is getting cheaper for the fifth day in a row. Overview for 22.03.2016
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The Euro is getting cheaper for the fifth day in a row. Overview for 22.03.2016

The main currency pair is being sold for the fifth consecutive session; demand for the Dollar is like “Safe Harbor”.

The Eurodollar continues falling in the second half of Tuesday; the pair is being sold for the fifth day in a row and may yet continue.  The current quote for the instrument is 1.1218.

The statistics published this afternoon remained in the shade because of terrorist attacks in Brussels. Investors turned to safe assets immediately and the Dollar started to get more expensive.

Nevertheless, the published data is worth noticing. The Eurozone presented the statistics on the private sector activity in March. The purchasing manager index from Markit in the service industry increased up to 54 points against 51.2 last month. In manufacturing sector, the same index increased less and is 51.4 points against the previous number of 51.2. The rate of strengthening of both indices is the most significant lately, and this is a good signal.

Germany provided the data on the Ifo Business Climate Index in March. The indicator strengthened up to 106.7 points against February number of 105.7 points. The data turned out to be better than expected, and if it was not for today’s sad and shocking news from the Old World, the Eurodollar may have grown a bit based on his data.

Turning to Tuesday’s events, which will be on the front pages of all news lines for a long time, we should note that there would be more talks about closing borders in Europe. This issue was already brought up, but didn’t come any further. The tragedy in Brussels may remind everyone about it again.
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