The dollar lost in response to data from the labor market
And because of disappointing U.S. labor market will be this week the most interesting track data on retail sales and Michigan consumer confidence, which will be published at the very end of the week. Up to Wednesday's minutes of the last Fed meeting (March 19 to 20) will be released rather secondary data. In addition, President Barack Obama will present the financial plan for fiscal 2014, which is based on both the spending cuts and the tax increases. It will be especially important as the design-build republicans.
In Europe, the macroeconomic calendar primarily on industrial production. During the week we will see the numbers for individual countries, of which Germany and France would be by consensus record monthly rise in Italy or Spain would continue to be continued unfavorable situation. On Friday it will be published complete data for the euro area. Estimates colleagues from Société Générale are much more pessimistic, especially when even the largest European economy expected monthly decline.
Risks worse data so we can see on both sides of the Atlantic. This constellation would not give a new impetus to the markets trend. In terms of technical analysis, USD / EUR rate was slightly corrected to the level of 1295, but since this limit should bounce towards 1.31.
Author: Miroslav Frayer
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