6:29 PM
The euro slowed its fall
FXTM Online Analysis Department. www.fxtmonline.com
On Friday, the main currency pair stabilized after four sessions of massive sales.
The euro/dollar stopped falling, but for how long? Four days in a row investors sold the European currency, but the factor of Greece still suspended this wave of sales.
Yesterday Statistics were released, according to which the number of claims for unemployment benefits in the US last week rose by 14 thousand and amounted to 281 thousand vs. the forecast of 271 thousand. At the same time stats last week were revised to decrease to 267 thousand, and it is at the minimum of nearly 15 years. Positivity is also visible in the averages: the four-week average line of the indicator is now at the level of 282.2 thousand and this is the "low" since 2000. It is logical that these details supported the position of the US dollar.
Yesterday the Greek authorities reported to the world that they have managed to pay off the debt to the International Monetary Fund in the amount of 460 million euro. This is positive news, but it was expected, despite the talk that Athens can not pay its debts. But even this could not withdraw from the Euro-currency from a downward spiral.
Next week will be full of statistics. The European Central Bank will hold a regular meeting at which a decision on interest rates will be made. But investors will be interested in the results of the first stimulus programs in the euro zone. A month passed, and it is unlikely that it will be particularly informative, but it would be nice to see the figures.
During the Friday, trading session the euro/dollar will be held most likely in the range of 1.0585-1.0650.
The euro/dollar stopped falling, but for how long? Four days in a row investors sold the European currency, but the factor of Greece still suspended this wave of sales.
Yesterday Statistics were released, according to which the number of claims for unemployment benefits in the US last week rose by 14 thousand and amounted to 281 thousand vs. the forecast of 271 thousand. At the same time stats last week were revised to decrease to 267 thousand, and it is at the minimum of nearly 15 years. Positivity is also visible in the averages: the four-week average line of the indicator is now at the level of 282.2 thousand and this is the "low" since 2000. It is logical that these details supported the position of the US dollar.
Yesterday the Greek authorities reported to the world that they have managed to pay off the debt to the International Monetary Fund in the amount of 460 million euro. This is positive news, but it was expected, despite the talk that Athens can not pay its debts. But even this could not withdraw from the Euro-currency from a downward spiral.
Next week will be full of statistics. The European Central Bank will hold a regular meeting at which a decision on interest rates will be made. But investors will be interested in the results of the first stimulus programs in the euro zone. A month passed, and it is unlikely that it will be particularly informative, but it would be nice to see the figures.
During the Friday, trading session the euro/dollar will be held most likely in the range of 1.0585-1.0650.
FXTM Online Analysis Department. www.fxtmonline.com
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