The euro fell to a February minimum

27.02.2015
On the last trading day of winter, the main currency pair is attempting to recover from yesterday's failure.

On Friday, the euro is trying to recover some positions. The night before, the euro/dollar came under pressure after the release of a significant block of American statistics.

Published data has shown that the volume of orders for durable goods in the US in January rose by 2.8% after a fall in December by 3.7%. The median forecast assumed that the rate may strengthen by 1.7%. This data is positive: growth in the indicator is seen for the first time in three months, and even if there is a correction to the previous value, the increase in the index stabilized the US dollar.

The main contribution to growth came from strong orders for civilian aircrafts (+ 128.5%), and industrial equipment (+ 1.9%).
Inflation in the US in January fell by 0.7% m/m (-0.1% y/y). If everyone is accustomed to monthly slippage, the yearly drawdown happened for the first time in 4.5 years. The situation with the consumer price index should be looked at. The data for February will show whether a complete deflationary trend has formed, and if it is still present, the Fed should respond to this.

The euro/dollar on Friday morning is trading around the 1.1212 mark. Today during the session, the pair will try to recover to 1.1250.
 
RoboForex Analytical Department

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