EUR / USD today: the pair is corrected on the expectation of the Eurozone data
At the trading on Tuesday, the pair EUR / USD appreciably strengthened on the news of Tillerson’s resignation, which fully met expectations from the pair over the past days. With the opening of the European session, the correction for the American dollar increased, which was caused by the development of this news and the restoration of the US government bonds. Also the pressure on the euro was provided by a very restrained speech by the ECB Head Draghi, in which he noted the need for incentive measures.
Events for today:
- 14:30 – data on retail sales in the US: the basic producer price index (PPI) in the US (m / m), the base retail sales index in the USA (m / m), the producer price index (PPI) in the USA (m / m) and the volume of retail sales in the US (m / m).
- 16:00 – the volume of inventories in the US (m / m).
- 16:30 – data on oil reserves in the US.
The day is too full of statistical data and speeches of representatives of the Central Banks, which can cause additional growth in volatility.
In the context of political uncertainty in the US, which is receding into the background, and the weakness of the euro on Draghi’s comments, the dynamics of the EUR / USD pair will depend on the upcoming data and market sentiment. It should be noted that the pair is clamped in the side triangle, within which it will continue to move.
EUR / USD Graph. The current price is 1.2370.
Hanzenko Anton