After updating this month’s lows, EURUSD quickly corrected.
The major currency pair reached some stability. The current quote for the instrument is 1.0914.
The “greenback” weakened yesterday: the US 10-year bond yield dropped, and market sentiment improved. Investors got interested in risky assets again and their demand for the USD declined.
Today’s going to be a very busy day. First of all, the European Central Bank is having another session. The benchmark interest rate is unlikely to change but market players are more interested in the regulator’s rhetoric. The more aggressive the comments, the better for the Euro. It might also be interesting to see how the regulator assesses inflation and what measures it is going to take it under control.
Secondly, the US will release the Retail Sales in March, which may add 0.6% m/m after gaining 0.3% m/m in the previous month, as well as the weekly report on the Initial Jobless Claims. It will be curious to learn the components of the former report – how Americans spend money in the light of the inflation surge.
As for the latter release, the indicator is expected to show 172K after being 166K the week before. The labour market remains quite stable and that’s the only thing everyone needs to know.
Later in the evening, EURUSD might become more volatile.
Source: Roboforex
