Article by Investazor.com
After six consecutive weeks, the US dollar managed to win the weekly battle in front of the EUR and pushed the quotation below 1.3800. The US dollar received some help from the weak European macroeconomic data and the speech Janet Yellen gave at the FOMC meeting. CPI y/y fell short of the expectations with a reading of 0.7%. The German ZEW Economic Sentiment disappointed with a value of 46.6 while the forecast was 52.8.
The newly crowned FED Chairman, Janet Yellen, managed to surprise the audience and the markets with an unexpected answer to the question, how much “considerable time” means in terms of the length of time when the Federal Reserve will raise the interest rates after the tapering comes to an end. Her answer, “around six months”, induced some panic in the markets, which was beneficial for the US dollar and sent EURUSD to a low of 1.3748.
Monday
German Flash Manufacturing PMI (8:30 GTM). Last month this indicator came below the estimated value for the first time in the last five months, so it will be interesting to see if the German manufacturing sector can surprise on the upside. This indicator it is a leading one for economic health and a reading above 50.0 indicates industry expansion.
Flash Manufacturing PMI (1:45 GTM). This indicator that measures the level of diffusion index based on surveyed purchasing managers in the manufacturing industry it is considered a medium impact indicator on the US markets. In February, the value was better than the expectations and for this month it is expected to come at 56.6.
Tuesday
Latest EURUSD posts:
EUR/USD Price Action For March 24;
EUR/USD Price Action For March 21;
EUR/USD Price Action For March 20;
EUR/USD Price Action For March 19;
EUR/USD Price Action For March 18;
EUR/USD Price Action For March 17;
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