The euro holds at the highs of the month

17.10.2014
The main currency pair remains at the peak of the last four weeks, waiting for new measures of stimulation from the ECB.

The Eurocurrency triumphs and tries to climb higher – what if, the source of positive dries up as suddenly as it had appeared? But so far everything is staying in its place, the euro bears are temporarily hiding in the trenches, and the EUR/USD pair is trading at about 1.28.

Investors do not rule out a new wave of incentives on the part of the ECB. On Friday, a member of the governing council of the European Central Bank, Mr Ker said that at the level of each country, which is a member of the E-18, it is necessary to continue to pursue structural reforms, despite the ultra-soft monetary policy in the region.

Simultaneously, a monetary politician of the ECB, Mr. Novotny, who is known on the market for his skeptical view of the European economy, noted that expectations for the pan-European GDP could be revised down in 2015. While the official forecast assumes expansion of the euro zone economy in the next year by 1.6%.

On the market there is a lot of talk about future fiscal steps from the Federal Reserve. Yesterday a representative of the Federal Reserve, Mr. Ballard did not rule out the option that the regulator can move the date of the completion of QE3. Naturally, this is only a speculative market moment, and the voiced opinion from Ballard does not mean that the Fed will do just that and not something else. But in the euro/dollar the buyers are trying to catch any positive nuance available.
 
RoboForex Analytical Department

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