The euro is back to an eight-month low
30.07.2014
The single European currency is weakening by the day. The "bears" are very close to the mark of 1.34, which is likely to be broken today. In that case a path for the sellers will open to 1.3385.
American statistics, published the day before, were decent. The consumer confidence index from the Conference Board in July rose to 90.9 points against 85.6 points in the forecast. The data was thus at maximums since the fall of 2007. These statistics create some support before today’s publishing of preliminary figures on U.S. GDP for the second quarter. I will remind you that the first quarter of 2014 for the U.S. economy ended with a fall by 2.9%, this time a growth of 2.5-2.9% is expected.
By the way, the U.S. economy in April-June this year remained under pressure from reductions in QE3 and reduced incentives, so the GDP data could include some unpleasant surprises.
Today is the conclusion of a two-day meeting of the U.S. Federal Reserve, the results of which will reveal the decision on the interest rate and opinions on the state of the economy. Market participants will be looking for any nuances relative to the theoretical rate increases and the timing of the final completion of QE3 - the evening promises to be dynamic and "hot."
RoboForex Analytical Department
American statistics, published the day before, were decent. The consumer confidence index from the Conference Board in July rose to 90.9 points against 85.6 points in the forecast. The data was thus at maximums since the fall of 2007. These statistics create some support before today’s publishing of preliminary figures on U.S. GDP for the second quarter. I will remind you that the first quarter of 2014 for the U.S. economy ended with a fall by 2.9%, this time a growth of 2.5-2.9% is expected.
By the way, the U.S. economy in April-June this year remained under pressure from reductions in QE3 and reduced incentives, so the GDP data could include some unpleasant surprises.
Today is the conclusion of a two-day meeting of the U.S. Federal Reserve, the results of which will reveal the decision on the interest rate and opinions on the state of the economy. Market participants will be looking for any nuances relative to the theoretical rate increases and the timing of the final completion of QE3 - the evening promises to be dynamic and "hot."
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.