10:57 AM
The euro is staying in positive territory
The main currency pair grows for the second consecutive day, slowly, but quite smoothly and stably. Ahead is a block of statistical data on the labor market in the US, and something could change.
The single European currency for the last one and a half session looks well: the EUR/USD is trading upward after a declining phase. On the one hand, the not very confident US data is playing a supporting role. Yesterday a series of releases on the March employment market came out, and the number of jobs in the private sector lagged behind expectations. For now it turns out that investors have laid too positive expectations in the performance of ADP. On the other hand, the weekly report on claims for unemployment benefits should come out good, and it will be released tonight. On Friday, the publication of data on unemployment and employment outside the agricultural sector is being prepared.
There is another point which stabilizes the euro. This is Greece, which this week released a list of reforms, which it is planning to do. Athens worked on the list very tightly: it fit in 26 typewritten pages. Greece will not be given new money, however, but the sunny country does not lose hope.
The list of reforms itself will be studied in detail the on April 24, and for now Greece remains under expectations.
Today in the afternoon, the market players may be eligible for a new catalyst: The European Central Bank will publish a report on its last meeting. In general, there should not be any surprises, but who knows, what will interest the investors this time.
The single European currency for the last one and a half session looks well: the EUR/USD is trading upward after a declining phase. On the one hand, the not very confident US data is playing a supporting role. Yesterday a series of releases on the March employment market came out, and the number of jobs in the private sector lagged behind expectations. For now it turns out that investors have laid too positive expectations in the performance of ADP. On the other hand, the weekly report on claims for unemployment benefits should come out good, and it will be released tonight. On Friday, the publication of data on unemployment and employment outside the agricultural sector is being prepared.
There is another point which stabilizes the euro. This is Greece, which this week released a list of reforms, which it is planning to do. Athens worked on the list very tightly: it fit in 26 typewritten pages. Greece will not be given new money, however, but the sunny country does not lose hope.
The list of reforms itself will be studied in detail the on April 24, and for now Greece remains under expectations.
Today in the afternoon, the market players may be eligible for a new catalyst: The European Central Bank will publish a report on its last meeting. In general, there should not be any surprises, but who knows, what will interest the investors this time.
FXTM Online Analysis Department. www.fxtmonline.com
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