The major has been growing steadily for two days and has all the chances to continue its productive growth today. The current quotation is 1.1814.
The market is curious: how will the dollar react to the good US statistics and can it grow without catalysts? For now, reactions are uneven though the reply to strong statistics yesterday was absolutely clear. The dollar had grown enough to let the correction smooth the market out.
The statistics published yesterday showed that the Markit PMI in services in March had grown to 60.4 points from 60 points previously, which was a bit better than expected. As for the official ISM, in March it reached 63.7 points, starting from 55.3 points earlier.
The plant order volume in February dropped by 0.8% m/m against expected 0.5% m/m and previous growth by 2.7%.
Today statistics is going yo be more abundant. The EU is publishing the Sentix investor confidence index in April that mught have grown to 6.8 points from 5 points previously. The unemployment rate in February might have remained at 8.1% which is good for a region in a lockdown. The USA macroeconomic calendar is yet inactive.
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.