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  3. EURUSD is weakening. Overview for 28.03.2022

EURUSD is weakening. Overview for 28.03.2022

28.03.2022

Sales in EURUSD increase; investors are escaping risks. 

The major currency pair continues falling. The current quote for the instrument is 1.0991.

Demand for the American currency remains high. On one hand, market players are still trying to escape risks. On the other hand, they continue analysing possible moves of the US Fed in the future. 

Statistically speaking, this week is promising to be interesting. First of all, the US will release the Conference Board Consumer Confidence for March. If the data turns out to be strong, it will confirm the theory about consumer market stability. Also, one should pay attention to the final GDP Q4 report – it is expected to be better than the previous estimate, which was also quite good. The latest data showed 7% in the fourth quarter, so it’s interesting to see the final report. 

In the middle of the week, the US will start reporting on its labour market. As usual, the first release will be the ADP Employment Change. The stronger the reading, the better for the USD. 

On Friday, there will be all other reports from the above-mentioned sector. One of them, the Unemployment Rate is expected to improve in March, while the Average Hourly Earnings may not be as good as it was. The Non-Farm Payrolls data may be a pleasant surprise. Again, The stronger the data, the better for the “greenback”. 

The American currency is currently supported by emotions but investors are ready to embrace the facts. 
 

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