The Euro isn’t responding to good news. Overview for 04.04.2018
The main currency pair continues consolidating despite quite positive news from the Euro Area.
EURUSD is growing very slowly on Wednesday. The current quote for the instrument is 1.2275.
The Euro Area reported on several macroeconomic indicators today and the numbers were quite good. For example, the preliminary Inflation Rate increased up to 1.4% y/y in March after being 1.1% y/y the month before. The Core Inflation Rate remained unchanged at 1.0% y/y.
The Unemployment Rate fell up to 8.5% in February, the same as expected, after being 8.6% in January. These readings are the lowest since the end of 2008 and that is a positive sign. The number of unemployed population in the Euro Area decreased by 141K and right now is a bit less than 14B. The major concern is the number of unemployed young people, which remains at 17.7% and wouldn’t change no matter what.
Later in the evening, EURUSD may start moving more actively, because the USA are going to publish the March Non-Farm Employment Change report from the ADP. As always, there is no direct correlation between this report and the Non-Farm Employment Change to be published on Friday, but investors pay attention to it anyway.
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.
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