Article by Investazor.com
EUR/USD closed for the sixth week on positive ground. The single currency managed to gain, in one and a half months, more than 3% in front of the US dollar.
Last week Euro touched a multilingual high at 1.3963 because of a high risk appetite that investors had. Right after this high was reached, on Thursday, the price began to drop. The fall was triggered by Draghi who said that euro exchange rate increasingly relevant in assessment of price stability. This, good US economic data and the problems in Ukraine turned investors to sell the European single currency and to buy safe heavens like gold and USDs.
The European CPI, German Zew and FOMC Statement would be some of the most important events scheduled for next week. Continue reading our article to find out what the expectations for these are and what other indicators are to be released, as well as what are our technical analysis on medium and short term for EURUSD.
Economic Calendar
Monday
CPI y/y (10:00). In February the consumer price index surprised with a 0.*% release. It was 0.1% more than the analysts’ median forecast. It is one of the most watched indicators by the ECB. Price stability is a key factor in the economic recovery for the Euro Area. In March it is expected to remain at 0.8%. If it will be published as a surprise than EURUSD will become volatile. A reading above expectations would trigger another rally for the Euro, while a reading below expectations would trigger shorting for the European single currency.
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