
US Monthly PPI will be announced on Friday at 15:30 MT time.
The European Central Bank (ECB) conference took place today, September 13. The ECB didn’t change its policy. It was anticipated by investors. There had been worries about an influence of the lower economic forecasts on the EUR.
ECB updated the data concerned GDP growth for the next two years. According to the president of the ECB Mario Draghi’s report, gross domestic product will grow by 2.0% in 2018, 1.9% in 2019 and 1.7% in 2020. The small decrease in expected percent of GDP growth was accompanied by the unchanged forecasts of inflation for 2018, 2019 and 2020. The expected level of inflation for the next three years is 1.7%. Draghi said that it will be consistent. In his opinion, lower growth doesn't always lead to lower inflation.
However, the situation for currency came out better than it was expected.
Analyzing the outcome of the ECB meeting, the fact that Draghi didn’t speak about the emerging market risks brought some joy to EUR/USD buyers.
In addition, CPI of the US revealed today showed lower figures than it was expected (0.2% vs 0.3%). This pushed the USD down and made EUR/USD even more favorable for bulls. As we can see on the daily chart, the pair has been rising reaching the 100-day moving average at 1.1680. This is the resistance level for EUR/USD. If the pair closes above this level, the next resistance will be at 1.1740. The opposite situation will result in uncertainty of the next euro move.
US Monthly PPI will be announced on Friday at 15:30 MT time.
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted
Manager will call your number
Next callback request for this phone number
will be available in {time}
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.