The demand for the USD is back. Overview for 10.03.2021
EURUSD is falling on Wednesday; a pause in investors’ negative attitude towards the USD was rather short.
The major currency pair is under pressure again in the middle of the week. The current quote for the instrument is 1.1880.
Last night, the US 10-year bond yield reached stability and helped the major currency pair to move away from its 3-month lows. Market players are expecting the American economy to recover much faster given the $1.9 trillion stimulus package. Also, there were rather neutral comments from the Fed saying that the package will allow to contain inflation.
By the way, the approval of the above-mentioned package is going quite well and that’s another good signal.
Today, investors should focus their attention on the statistics from the USA. For example, the country is planning to report on the CPI and Core CPI, which may show 0.4% m/m and 0.2% m/m in February after being 0.3% m/m and 0.0% m/m respectively in the previous month.
Tomorrow will be a more informative day for EURUSD. The European Central Bank is scheduled to have another meeting to decide on its monetary policy. The benchmark rate is expected to remain unchanged but updated estimates of the current economic situation may hint at more stimulus measures.
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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