Euro slightly restored. Overview for 10.09.2020
On Thursday morning, the EURUSD pair keeps bouncing, putting up weight. The current quotation is 1.1821.
The key event today is the meeting of the European Central bank and its decision on the interest rate, followed by a press-conference of the head of the regulator. The rate has been at zero and will most likely remain the same - now is definitely not the time for any revision. Moreover, the ECB has never been fond of sensational changes in monetary policy that were not announced beforehand.
What we are mostly interested in is the evaluation that the regulator will give to the current situation in the EU economy and the next steps that it is going to take. These are the things that the behavior of the EUR will depend on.
Today, the USA are issuing the unemployment claims. The index is forecast to amount to 838 thousand, which is better than last week (881 thousand). Moreover, the States will issue the PPI, core and final, and Final Wholesale Inventories in July. Statistics is abundant but the dollar may show no reaction at all.
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.