EUR/USD if waiting for news.Market Review, July 26, 2018

EUR/USD is not wasting the energy for fluctuation and is trading within the limited range waiting for the news on the outcome of the session of the European Central Bank.The pair is currently trading at 1.1727.

It is highly unlikely that there will be a change to the monetary-credit policy: the interest rate most probably will stay at 0, and the QE programme will experience no changes. However, Draghi may give his own estimates of the current situation in the economy of the eurozone, proceeding from which one will be able to predict the next steps of ECB.

At the same time, this session may be a very relaxed one.Now, in the full summer, very few are in tune for active work. Alongside this, ECB perfectly understands that during summer the liquidity is low in the currency market, and sharp remarks can lead to increased volatility.

In the afternoon one should pay attention to the US statistics for the number of orders for durable goods for June. The forecast suggests a sharp 0.3% growth a month, after the 0.4% m/m decrease a month earlier.The deviations from the forecast points can lead to active movements in the main currency pair.