EUR/USD today: the euro slows growth on the correction
On Friday trades the EUR/USD pair is trading with a moderate strengthening, limited to Thursday highs. At the same time, the market continues to monitor the situation with Brexit, in which the British Parliament voted to continue the transition period until June 30. Also, this decision should support the EU.
Events for today:
- 15:15 – data on industrial production in the United States.
- 16:00 – JOLTS job openings will be announced (January) in the United States.
- 19:00 – The number of Baker Hughes rigs in the United States will be released.
Eurozone inflation data released today did not have a significant impact on the market. The dynamics of the euro remains under the pressure of correction after growth, which intensified on the correction of positions before the weekend.
Under conditions of market restraint, movement in a side trend from 1.1330 to 1.1300 is expected. Against the background of more negative sentiment, the euro correction may intensify to support 1.1280-60. At the same time, the upward trend is maintaining in the EUR/USD pair, opening the way to resistance levels: 1.1350 and 1.1380.
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Hanzenko Anton
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