EURUSD on Tuesday remains in a downtrend. The current quote is 1.0940.
At the beginning of the week, there is no important news, so investors focused on currency speculations based on the expectations about future steps that the US Federal Reserve System might make. Curiously, according to the CME FedWatch, the probability of the interest rate being lifted at the meeting in May by 25 base points has already reached 80%, while a week before it used to be 40%. Meanwhile, the market obviously counts on a pause in interest rate increases at the meeting in June.
On the whole, investors can enjoy themselves this way for a very long time. However, before the Fed signals it is ready to stop lifting the rate, EURUSD may fall even deeper only to grow confidently later.
The Eurozone today will publish exciting statistics of the ZEW business sentiment index in April. The index is expected to have grown to 12.2 points from 10.0 points earlier. This could support the EUR. Also, the Eurozone will publish trade balance components in February.
The US on Tuesday will start issuing real estate sector statistics. The construction permits release for March will be the first one to come out alongside the number of new houses laid out.