The EUR/USD pair is trading upward on a quiet news background and the lack of statistics.
The single European currency is trading upward in tandem with the US dollar at the beginning of the new week. The current quotation of the instrument is 1.1374 (0.3%). The euro has also completed last week very efficiently.
Today, the markets are calm, the news flow is neutral, and the macroeconomic data calendar is empty. Investors are watching the oil and it is Columbus Day in the US. In addition, investors are beginning to bet on the outcome of the October meeting of the US Federal Reserve. In just a few days the American statistics on inflation will be published, and it will give a more objective picture of what the reaction of the Fed will be.
The representative of the European Central Bank, Ms Lautenschläger said earlier in the week that the stimulation of the European Central Bank can not solve all the problems of the eurozone economy, which is kept very vulnerable to external risks. The main concern the regulator is the differences in the economies of different countries in the region, that leaves room for outside influence and reduces instruments for renewed growth. The problem in most of the European countries is a high level of public debt, says Ms Lautenschläger. In addition, in some cases it is very difficult to allocate financial resources to the factors of production. It also creates additional problems in extending stimulation and spreading its beneficial effects.
RoboForex Analytical Department
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