EURUSD is very cautious early in the week. Overview for 04.03.2019

The major currency pair is barely moving on Monday morning; investors need some catalysts. 

On the first Monday of spring, EURUSD is standing still in anticipation of new drivers. The current quote for the instrument is 1.1363.

Last Friday, the USD was feeling pretty well due to the increase of 10-yer bonds profitability and the progress in trade talks between the USA and China. As a result, market players didn’t pay much attention to the numbers from the USA, which were worse than expected. 

From the point of view of the economic calendar, today’s trading session will be rather calm. In the afternoon, the Euro Area will report on the Sentix Investor Confidence in March, which is expected to recover up to -3.1 points after being -3.7 points the month before. Any reading above zero indicates optimism, otherwise – pessimism. 

One can’t say that the report is very important for the European currency. However, with the lack of other reasons for movements, this catalyst might as well become a catalyst. 

In the evening, the USA are scheduled to publish the Construction Spending report, which is expected to add 0.2% m/m in December after losing 0.8% m/m in the previous month. However, this report is also minor for EURUSD.