Possibility of a rebound in the euro/dollar will arrive this evening
29.05.2014
This morning the EUR/USD pair’s gains were reduced to a minimum, the instrument fell back to below 1.3600.
The EUR/USD failed to keep up the momentum of the rebound this Thursday, which was held in the Asian session, and with the arrival of European investors went back to below 1.3600. A little more, and the instrument will test the next local minimums.
Yesterday's stats on the business climate index in the euro zone, which were a little stronger than expected, failed to support the European currency. It seems that investors have seriously decided with the publication of the May inflation and the European Central Bank meeting to press on the pair as much as they can.
Today in the afternoon, however, the euro/dollar may have a chance of correction. The U.S. is preparing to publish revised data on the GDP for the first quarter of 2014. The median forecast suggests that at the beginning of the year the U.S. economy decreased by 0.5% q/q – considering the fact that we have not seen negative dynamics for several years. The first digit was perhaps optimistic - there was an increase of 0.1% q/q.
The White House now explains all the failures in the economy with the abnormally cold winter in 2014, when companies were forced to stop production due to weather conditions. All is well, but this reason has already become kind of universal.
RoboForex Analytical Department
The EUR/USD failed to keep up the momentum of the rebound this Thursday, which was held in the Asian session, and with the arrival of European investors went back to below 1.3600. A little more, and the instrument will test the next local minimums.
Yesterday's stats on the business climate index in the euro zone, which were a little stronger than expected, failed to support the European currency. It seems that investors have seriously decided with the publication of the May inflation and the European Central Bank meeting to press on the pair as much as they can.
Today in the afternoon, however, the euro/dollar may have a chance of correction. The U.S. is preparing to publish revised data on the GDP for the first quarter of 2014. The median forecast suggests that at the beginning of the year the U.S. economy decreased by 0.5% q/q – considering the fact that we have not seen negative dynamics for several years. The first digit was perhaps optimistic - there was an increase of 0.1% q/q.
The White House now explains all the failures in the economy with the abnormally cold winter in 2014, when companies were forced to stop production due to weather conditions. All is well, but this reason has already become kind of universal.
RoboForex Analytical Department
Attention!
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.