The euro managed to stabilize
22.07.2015
The main currency pair strengthened significantly recently and is currently trying to keep the momentum in place.
The euro has stabilized, and that's good. However, this is unlikely a trend or a reversal – for now it’s more of a technical factor seen after a rebound from sales after last week. Market participants are simply fixed their profit after the "bear" session and now have taken a pause to reassess realities.
Yesterday no important macroeconomic statistics came out, and the nearest important publication is scheduled for Friday. Then we will see a release on the preliminary PMI index in the euro zone. Next week the next two-day meeting of the Federal Reserve System will be held. The topic rates and their differences will arise again in full height, and this means that the euro/dollar will again fall into a wave of turbulence.
Monetary politicians continue to periodically encourage investors in thinking about the future of interest rates. So, earlier the Fed Chairman Ms. Yellen pointed out that her Office aimed at improving performance this year, and it’s beneficial that the economy recovers quickly. There will be a lot more speculations on this subject.
The news on Greece are very positive for the euro. It became known yesterday that Athens carried out payments on debts to the IMF and the ECB. It gave some reassurance to investors and allowed the euro to stabilize after a series of sales. However, later in the day the Greek parliament must agree and accept all the bills outlined in terms of financial aid. Options to "accept / reject" are not available, the risks are minimal, but knowing Greece, we can expect anything.
RoboForex Analytical Department
The euro has stabilized, and that's good. However, this is unlikely a trend or a reversal – for now it’s more of a technical factor seen after a rebound from sales after last week. Market participants are simply fixed their profit after the "bear" session and now have taken a pause to reassess realities.
Yesterday no important macroeconomic statistics came out, and the nearest important publication is scheduled for Friday. Then we will see a release on the preliminary PMI index in the euro zone. Next week the next two-day meeting of the Federal Reserve System will be held. The topic rates and their differences will arise again in full height, and this means that the euro/dollar will again fall into a wave of turbulence.
Monetary politicians continue to periodically encourage investors in thinking about the future of interest rates. So, earlier the Fed Chairman Ms. Yellen pointed out that her Office aimed at improving performance this year, and it’s beneficial that the economy recovers quickly. There will be a lot more speculations on this subject.
The news on Greece are very positive for the euro. It became known yesterday that Athens carried out payments on debts to the IMF and the ECB. It gave some reassurance to investors and allowed the euro to stabilize after a series of sales. However, later in the day the Greek parliament must agree and accept all the bills outlined in terms of financial aid. Options to "accept / reject" are not available, the risks are minimal, but knowing Greece, we can expect anything.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.