EURUSD is again depressed after a phase of growth earlier. The current quotation is 1.1900.
The cautiousness in the market might be provoked by the comments of the head of the European Central bank Christine Lagarde. Yesterday she noted that the risks of a slow-down in the European economy are beyond the short-term horizon. However, she considers long-term risks to be decreasing, which means the growth will soon speed up. As before, the pandemic is supposed to be the main risk.
As for the economy stimulation program, the head of the ECB concluded that it might not be necessary to spend the whole sum – which is 1.85 trillion EUR. However, the Central bank is authorized to enlarge this sum if capital markets need it.
Yesterday, statistics from the USA was not the brightest: for example, the number of unemployment claims grew to 744 thousands against 728 thousands a week before. Meanwhile, a decline to 682 thousand had been forecast.
This trading day might be rather calm, especially if statistics turn out favorable. Germany has already issued industrial production data for February, and the index had dropped by 1.6% m/m after the previous slump by 2% m/m. The forecast expected growth by 1.6% m/m. In the evening, the US will present the PPI and wholesale stocks information.
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.