15:30 MSK. US: Consumer Price Index for February.
17:30 MSK. US data on crude oil inventories from the Energy Department.
The forecast of the euro to the dollar EURUSD today 03/11/2020
The European currency shows the correction before the meeting of the ECB, which will be held tomorrow. ECB tomorrow may reduce the deposit rate, increase the volume of purchases of bonds and lower forecasts for GDP against the background of coronavirus. It is worth noting that he is not afraid of coronavirus, and quarantine, which is introduced on the eve of Italy. For investors, this will be a good excuse to take profits on "Long" in the euro. Today, it is not necessary to wait for reduction of gold, which will put additional pressure on the euro, as both asset correlate well with each other. If you look at the classic intermarket relationship of gold and oil, it now stands at 45, with an average value over the last 40 years 20. Even in the period of panic sales of oil at the beginning of 2016, when the price tag BRENT fell to $ 27.5, the ratio was 41. It turns gold overbought and oversold oil. Let me remind you that on Monday morning, the ratio of gold and oil was at 50, and for a long time, this level did not last, started upward correction in oil. Even if you focus on the value of 41, which was in January 2016 at the time of the collapse of oil prices, the gold can fall in the coming days at $ 1625, while oil BRENT grow to $ 39.6. But again, 41 is still an extreme value and gradually it will be reduced.
EURUSD recommendation: Sell 1.1340 / 1.1360, and take profit 1.1300