The Euro is still being sold. Overview for 10.04.2017

The main currency pair is trading to the downside on Monday afternoon; “bears” have been in control over the pair for the fifth trading session in a row.

The EUR/USD pair is still pressured by geopolitical tensions in the world. The more dangerous situation, the higher the demand for “safe” currencies, including the USD. The current quote for the instrument is 1.0577.

The statistics published by the Eurozone this afternoon was a nice surprise. The Sentix Investor Confidence increased up to 23.9 points in April after being 20.7 points in March and against the expected reading of 20.2 points. Today’s number is the strongest over almost 10 years. The Current Assessment increased from 23.8 points to 28.8 points. The Business Expectations increased up to 19.3 points after being 17.8 the month before. 

The world is watching very carefully the USA’s international policy. After the Syrian incident, the attention was drawn to the movement of the USA navy towards the Korean Peninsula. At the same time, on the backstage there are lively discussions about some potential law intended for toughening sanctions against Russia, including ban on buying any type of bonds. The situation being what it is, the demand for the USD and the Yen, “save haven” assets, is justified.

Today, there is little significant statistics for the currency market, but in the evening the attention of the market players will be again focused on the USA, where they expect Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System, to deliver a speech. Probably, she may talk about the March statistical reports on the labor market published last Friday and describe the macroeconomic environment in the country.

RoboForex Analytical Department