The euro doesn’t get tired of updating the peaks
07.05.2015
Yesterday the euro/dollar "took advantage" of weak statistics from ADP in the US and moved up to new highs.
The main currency pair in recent weeks shows very interesting movement. This is not slack movement, but energetic jumps.
It became known yesterday that retail sales in the euro zone fell in March by 0.8% m/m against the forecast of a reduction of 0.7%. The March fall was crossed by the unsteady recovery in the February indicator. The population continues to "hold on to" the money, and it's not a good signal for the economic system.
News from Greece can somewhat limit the activity of buyers the euro/dollar. So, at the moment there is talk of "constructive negotiations", and Athens have until July to show the Old World a complete plan of reforms and receive the last tranche of the bailout package. For now there are only discussions, arguments and negotiations - nothing real was shown and probably will not be shown. Only before the onset of the "X" hour will they say that everything is agreed, Greece will once again promise to cut spending, and this issue will be forgotten for a while.
Statistics from the United States was once again negative. According to ADP the number of jobs in the private sector in April grew by 169 thousand against the rise in March by 189 thousand. The forecast assumed that the indicator will increase by 200 thousand.
But the excitement and doubt right now will recede into the background, as on Friday market data on US labour will come out, and it will be more than informative for the market. According to expectations, the unemployment rate will fall to 5.4%.
RoboForex Analytical Department
The main currency pair in recent weeks shows very interesting movement. This is not slack movement, but energetic jumps.
It became known yesterday that retail sales in the euro zone fell in March by 0.8% m/m against the forecast of a reduction of 0.7%. The March fall was crossed by the unsteady recovery in the February indicator. The population continues to "hold on to" the money, and it's not a good signal for the economic system.
News from Greece can somewhat limit the activity of buyers the euro/dollar. So, at the moment there is talk of "constructive negotiations", and Athens have until July to show the Old World a complete plan of reforms and receive the last tranche of the bailout package. For now there are only discussions, arguments and negotiations - nothing real was shown and probably will not be shown. Only before the onset of the "X" hour will they say that everything is agreed, Greece will once again promise to cut spending, and this issue will be forgotten for a while.
Statistics from the United States was once again negative. According to ADP the number of jobs in the private sector in April grew by 169 thousand against the rise in March by 189 thousand. The forecast assumed that the indicator will increase by 200 thousand.
But the excitement and doubt right now will recede into the background, as on Friday market data on US labour will come out, and it will be more than informative for the market. According to expectations, the unemployment rate will fall to 5.4%.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.