The euro deepens the 9 month minimums
20.08.2014
The main currency pair continues to decline, the attraction of the players is once again on the side of the greenbacks after yesterday's European statistics.
The European single currency remains under pressure from the "bears", investors are in no hurry to buy up these sales, since the statistics for the euro area is still minor. Yesterday the pair was "collapsed" by the data on the balance of payments of the E-18: the positive balance fell in June to 13.1 billion euro against the May level of 19.8 billion euro, and that was a "shot in the back," for the EUR/USD pair.
Actually, it was difficult to expect anything else. It is clear that the July stats on the balance of payments will be many times worse, and report on the trade balance will "kill" the whole market optimism. The euro zone is in a very difficult situation - not daring to count on at least some manifestation of quantitative easing, the eighteen European economies have to rely only on themselves. The situation with the strong neighbour - Germany - is not going in the best possible way.
Today the traditional publishing of the "minutes" of the Federal Reserve System will attract attention. However, it will be late in the evening, and before that time the euro/dollar will remain in their original places. The immediate aim of the sales is at 1.3285, followed by 1.3250.
RoboForex Analytical Department
The European single currency remains under pressure from the "bears", investors are in no hurry to buy up these sales, since the statistics for the euro area is still minor. Yesterday the pair was "collapsed" by the data on the balance of payments of the E-18: the positive balance fell in June to 13.1 billion euro against the May level of 19.8 billion euro, and that was a "shot in the back," for the EUR/USD pair.
Actually, it was difficult to expect anything else. It is clear that the July stats on the balance of payments will be many times worse, and report on the trade balance will "kill" the whole market optimism. The euro zone is in a very difficult situation - not daring to count on at least some manifestation of quantitative easing, the eighteen European economies have to rely only on themselves. The situation with the strong neighbour - Germany - is not going in the best possible way.
Today the traditional publishing of the "minutes" of the Federal Reserve System will attract attention. However, it will be late in the evening, and before that time the euro/dollar will remain in their original places. The immediate aim of the sales is at 1.3285, followed by 1.3250.
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.