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Main » 2018 » March » 5 » The euro dollar forecast EUR / USD pair today 05/03/2018: The euro reacted to decrease the outcome of the Italian elections
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The euro dollar forecast EUR / USD pair today 05/03/2018: The euro reacted to decrease the outcome of the Italian elections

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Results of the last trading day:


On Thursday, 1 March, trading on the currency pair EUR / USD has once again resulted in the growth. Dollar remains under pressure because of the input States import duties on steel and aluminum. US trading partners have declared that they can enter the appropriate protective measures.

 

 

 

 

Trump all I answered in Twitter: "When a country (USA) loses many billions of dollars in trade with almost all countries with which it does business, trade wars are good and are easy to win."

 

Trump said today that its aim is to protect jobs in the US in light of cheaper imports. According to him, the metal industry is a serious condition.

 

After the fall of major indices in U.S. corrected. The yield on the US 10-year bonds rose 0.050 points to 2.860%. Next week, investors will be focused on the details of the labor market survey in the United States.


The US dollar came under pressure after the increase in US import duties on steel and aluminum. After the new Trump claims he continued to take the position of the main competitors on the entire market.


In his twitter Trump wrote: "When a country (USA) loses many billions of dollars in trade with almost all countries with which it does business, trade wars are good and are easy to win."


Published statistics:

Canadian GDP in December was 0.1% (prediction was 0.1%, the previous value of 0.4%), 4Q - 0.4% (previous value 0.4%).

The consumer sentiment index, University of Michigan in the US 99.7 (forecast was 99.5, previous 95.7).


Planned statistics (GMT +3):

C 11:15 to 12:30 will leave indexes of business activity in the services sector in February in Spain, France, Italy, Germany, the euro zone and Britain.

At 12:30 the Eurozone will publish an indicator of investor confidence from Sentix in March.

At 13:00 the Eurozone will release data on changes in retail sales in January.

At 17:45 the US will present the PMI index for the services sector from Markit for February, and at 18:00 the index of business activity in the service sector from the ISM in February.

21:15 to give a speech FOMC member Randall Kvarls.

 

Fig. 1 euro / dollar, hour period. Data source: TradingView


Friday's expectations with growth of recovered vapors. The euro recovered to 135-degrees from 1.2155.


On Monday, with the opening of the market, the euro / dollar tested the 157-th degree and the U3 line. Here, most likely, the participants responded shopping on the results of voting in Germany. Germany's Social Democrats (SPD) supported by another coalition with the conservative Chancellor Angela Merkel. Now, the Bundestag will vote on the candidacy of Angela Merkel as chancellor of Germany on March 14.


From 1.2365 euro fell to 1.2300. Drop in prices contributed to the results of Sunday's parliamentary elections in Italy. No party won a majority of seats in parliament.


In Asia, the dollar is trading in a defensive asset in the red, the rest - in the black. Given today's news block and technical analysis, I am of the euro is expected to decline to 67 grams. - followed by reduction of 1.2282 to 1.2335. By the time the Lb line should provide support to customers.  

 

Author Vladislav Antonov Alpari

 

 

 

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