Euro still hopes for further growth. Overview for 08.04.2021


On Thursday morning, EURUSD is growing, preserving the ascending impulse, regardless of the yesterday's pause. The current quotation is 1.1880.

According to the data published yesterday, the final PMI in services in March (the EU and Germany) turned out better than expected. In the EU, the indicator grew by 49.6 points from 48.8 points previously. In Germany, it reached 51.5 from 50.8 points earlier. By the way, the data is not planned to be revised.

The USA presented very impressive crediting data: in February, the volume of consumer crediting rose to 27.6 billion USD while in January, it was at 0.1 billion USD. This is great news that reflects livening up of consumers. They will pull the economy out of the crisis alongside stimulation.

In the minutes of the last Fed meeting published yesterday it is said that the situation in the economy had improved thanks to efficient fight against the pandemic but several macroeconomic indices remain weak. Monetary politicians agree that the recovery of the economy has sped up but there are nuances. For example, the emplyment issue: even with the parameter stabilized in January and February, it remains below the levels of early 2020.

Yearly inflation is below the target level of 2% but in the short term the CPI might grow above this. Now the Fed keeps buying back the assets from the market for 120 billion USD a month until some progress in inflation and employment rates is reached.

The Fed meeting was held on March 16-17th, the next one is scheduled for April 27-28th.


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.