The euro does not have time to evade punches

24.10.2014
In the end of the week, the main currency pair remains under pressure amid published statistics - but who is still surprised?

The euro continues to lose ground, further departing from 1.28 – the mark that was so "liked" by the buyers and which is now so far to return to.

American statistics, published the day before, were quite good. The number of claims for unemployment benefits last week rose by 17 thousand - up to 283 thousand. And although it is higher than expected, the data for the last five days has been even better according to the revisions. So far the figure for the number of claims for benefits remains in spring 2000 lows. In addition, the United States is still in the corporate reporting season - financial releases, published the day before, came out optimistic.

Today there will be little statistics. Investors continue to jump the gun and speculate what the outcome of the next meeting of the Federal Reserve next week will be. Again and again on the scene there is talk about rates - QE3 from the Fed is almost depleted.

Whatever will relate to the raise in the rates in the foreseeable future, will play in favour of the dollar and, therefore, against the euro.
 
RoboForex Analytical Department

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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.