EURUSD remains volatile. Overview for 05.03.2018
The main currency pair is trading with rather significant fluctuations on Monday; investors are assessing voting results in Italy and the USD outlook.
On Monday morning, EURUSD is constantly changing direction. The current quote for the instrument is 1.2307.
There are no important statistics today, except for the US Final Services PMI that is scheduled for the evening. Moreover, while investors have no significant fundamental drivers, their attention is focused on other news.
Last weekend, there were national elections in Italy, the results of which haven’t provided a clear outlook on the country’s future. The votes are still being counted, but even now, one can see that the coalition consisting of “Forza Italia”, “Lega Nord”, and “Brothers of Italy” received enough votes to be the first, “Movimento 5 Stelle” was the runner-up and the Leftists are third. However, the preliminary survey showed completely different expectations.
Apart from this, investors are closely watching what is happening to the USD. They responded to the decision of the Trump’s Executive Office to increase import duty for steel and aluminum and are expecting more economic warfare in the financial world. So far, Trump hasn’t commented on this issue, but if he continues his verbal interventions, the market may become really uneasy again.
RoboMarkets Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.