EURUSD is steadily trading close to its 10-week highs and waiting for the news.
On Tuesday afternoon, the major currency pair continues consolidating not far from the highs it updated earlier. The current quote for the instrument is 1.2141.
After the USA published weak reports on its labor market, investors are trying to stay away from buying the “greenback”. In addition to that, they remember that the US Fed will continue sticking to its soft monetary policy for a long time, at least for the next couple of years. For the USD, it’s not much good news.
The problem is inflation boost if the stimulus programs intended to support the American economy last for a long stretch of time. It’s a long-term pressure factor that revives from time to time. however, in fact, it’s pretty difficult to really believe that the Fed and the White House will be more cheerful until their economic goals are reached and the country’s economy enters a stable growth phase. Without this, the regulator won’t close the stimulus programs.
The weakness of the “greenback” led to the quick growth of other traded currencies and a rally in the currency market.
Later this week, market players will switch their attention to the data from the USA: the country is scheduled to report on the CPI and Retail Sales on Wednesday and Friday respectively.
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.