EURUSD plunged. Overview for 28.02.2022
EURUSD plunged; the demand for the “safe” USD remains quite high.
The major currency pair is forced to consider global market turbulence. The current quote for the instrument is 1.1169.
The “greenback” is supported by the increased demand for “safe haven” assets among risk aversion on global financial markets due to geopolitical tension escalation. This factor is the key catalyst for investors right now.
Geopolitics-related emotions are very clear. A bit later, when the political intensity calms down a bit, the demand for the USD will still remain high while the financial world will be adapting to a new reality.
At the same time, there were few macroeconomic reports on the calendar. Still, this may change by the end of the week.
As it usually happens early in the month, the US labour market data for February will attract much attention. First of all, it’s about the Non-Farm Payroll and the Average Hourly Earnings. Other interesting reports are the Unemployment Rate and the ADP Non-Farm Employment Change. Market expectations are mostly positive and may support the “greenback”.
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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