The main currency pair keeps positive momentum, but investors prefer to wait.
After significant growth yesterday evening, EURUSD slowed down a bit. The current quote for the instrument is 1.2321.
Yesterday, the Euro was supported by the speech delivered by Mario Draghi, the ECB Governor. He said that inflation expectations remained the same and in the nearest future the CPI might finally reach the regulator’s target of 2%. In general, 2018 might be marked with stable growth rate of the Euro Area’s economy, but the ECB was still planning to continue the Quantitative Easing program. Draghi repeated once again: without the program, all success in the economy would be reset to zero.
The USD, in its turn, lacked investors’ attention after the trade conflict between the USA and China was put on hold.
Apart from other things, investors are saving strengths before new reports on the inflation from the USA. Average expectations aren’t imply the indicator to change in March. Last month, it added 0.2% m/m. On YoY, it increased up 2.8%, that’s why some kind of slowdown may be taken by investors as a positive thing. The growth of the inflation may later require some fiscal measures to hold it back, so slowdown of the indicator would be appropriate.
RoboForex Analytical Department