FXTM Online Analytical Department.

The euro has stabilized at a local low

The main currency pair in the last three trading days has settled in the range of 1.0494-1.0716, which, however, does not preclude its further "drawdown".

By Friday the single European currency remains under pressure, but in fairness it should nevertheless be noted that the investor sentiment has stabilized. Trading activity is reduced in anticipation of the meeting of the Federal Reserve System, which is scheduled for next week.


The same is expected from the Fed as always: clearer and more substantive comments on the start time of tightening of monetary policy, specifics on rates and all that will clarify the term and make it more transparent.

Yesterday the EUR managed to find a balance point when the data on retail sales in the US in February came out. The index fell, which is a trend for three months and it can be easily traced. Retail sales slipped 0.6% after falling the previous month by 0.8%. In December, the dip in retail sales was 0.9%. On an annual basis in February the indicator increased by 1.7%, but it is not enough for the United States.

Today, data on the index of producer prices in the US in February is being prepared for publication, core PPI evaluation and data on the index of consumer sentiment for March.

FXTM Online

                        Analytical Department.