EUR/USD today
On Thursday, trading in the EUR/USD pair is limited by lateral dynamics and the expectation of the ECB meeting minutes and the subsequent press conference. As a result, this pair and the euro as a whole are traded with restrained dynamics.
Events for today:
- 14:45 – The ECB meeting minutes will be published.
- 15:30 – US data : export price index (m/m) (November), import price index (m/m) (November), initial jobless claims and new home price index ( m/m) (oct).
- Also at 15:30 – the ECB will hold a press conference.
The focus of the market is on the data from the ECB and their forecasts for the eurozone economy. There is no consensus on the results of the ECB meeting. So, earlier, there were rumors in the market that the ECB could signal a further winding down the economic stimulus program (QE). Now the market is more inclined to the fact that the ECB will leave monetary policy unchanged and lower forecasts for inflation and a stronger economy.
As a result, the expectations for the EUR/USD pair remain ambiguous, if not to say restrained negative. At the same time, the EUR/USD pair itself is limited to significant support levels: 1.1360-50, 1.1330-00 and 1.1280, resistances: 1.1400, 1.1430 and 1.1450.
Read also: “Cross-rates characteristics”
Hanzenko Anton
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