EURUSD remains volatile. Overview for 05.03.2018

The main currency pair is trading with rather significant fluctuations on Monday; investors are assessing voting results in Italy and the USD outlook.

On Monday morning, EURUSD is constantly changing direction. The current quote for the instrument is 1.2307.

There are no important statistics today, except for the US Final Services PMI that is scheduled for the evening. And while investors have no significant fundamental drivers, they pay attention to other news.

Last weekend, there were national elections in Italy, the results of which still haven’t cleared anything about the country’s future. They are still counting the votes, but even now, one can see that the coalition consisting of “Forza Italia”, “Lega Nord”, and “Brothers of Italy” got enough votes to be the first, “Movimento 5 Stelle” was the runner-up, and the Leftists were the third. However, the preliminary survey showed completely different expectations.

Apart from this, investors are closely watching what is happening to the USD. They already responded to the decision of the Trump’s Executive Office to increase import duty for steel and aluminum and are expecting more economic warfare in the financial world. So far, Trump hasn’t commented on that, but if he continues his verbal interventions, the market may become really worried again.

RoboForex Analytical Department