The main currency pair is trading to the upside on Monday, “recovering” after the news published last Friday.
On Monday, the Eurodollar is slowly growing on a weak trading activity. Investors are not “moving” a lot due to the holidays in the USA and the United Kingdom. The current quote for the pair is 1.1134.
Last Friday, the Eurodollar updated its March lows after the comments made by the head of the Federal Reserve System, Janet Yellen. In her speech, she said that the regulator was considering the interest rate increase in the next several months. One can see that the US economy is growing, positive momentums continue. This is what could be seen with “the unaided eye” and what market participants wanted to hear. Yellen said that another essential thing was a positive momentum on the employment market. It has not been a problem for the USA for a long time, that’s why these words were quite regular.
Another good thing on Friday was the revised statistics on the American GDP in the first quarter. According to the new numbers, the US economy expanded by 0.8% against the first number of 0.5%. This is a good signal, which was surely noticed by the FRS.
There won’ be a lot of important statistics today. However, a new month starts in a couple of days, and it will bring new data on the employment market in the USA in May. This is very important before the June meeting of the FRS, because monetary politicians made it clear that they were ready to act. Now the matter depends on reports.
RoboForex Analytical Department
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