The Euro remains under pressure. Overview for 24.04.2019

24.04.2019

Most investors returned to the market yesterday and EURUSD moved downwards. 

The major currency pair remains under pressure on Wednesday, but sellers are quieter today than yesterday. The current quote for the instrument is 1.1215.

Yesterday, the liquidity on the market started going back to normal after Easter holidays in the Catholic world. The major currency pairs got more volatile very quickly and the American Dollar was ahead of the curve. 

Additional support to the USD was provided by the real estate sector. The New Home Sales report showed 692K (+4.5% y/y), which was a surprise for many market players as they expected the indicator to be 650K. it means that the positive momentum in the indicator continues – it improved for the second month in a row (+5.9% y/y in February). It’s a good sign for the USD.

The macroeconomic calendar is still rather empty today. 

In the afternoon, Germany is going to report on the Ifo Business Climate in April. The indicator is expected to go up from 99.6 points to 99.9 points. However, this is a minor report for EURUSD, so no active responses are expected. 

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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.