Macroeconomic calendar of last week did not contain any significant events that may considerably affect the volatility of the currency market. Published statistics on France, Germany and the Eurozone generaly were good, but the single European currency has been all week under pressure, as well as in a pair with the US dollar and in cross-rates with other currencies, except the cross with the British pound. Probability of exit the UK from the European Union and quite weak data on consumer price inflation have contributed to the preservation of the negative attitude towards him.
For the euro, possible "Briexit" is also a negative factor, and the pressure on him has increased from the occurred last week terrorist attacks in Brussels. On this background the euro/dollar reduced reaching to the support in the area of 1.1144. Market activity on the eve of the Easter holidays was quite low, so the losses of euro were relatively small. If he will manages to consolidate above 1.1144-0.1059, the threat of assault of the 14th figure will remain high. The loss of this support will worsen its prospects.
According to published data, the volume of housing sales on the primary market in the USA has exceeded the analysts' forecasts, and the previous value was revised upwards. Not bad as well came out data on USA GDP data on personal spending, and fly in the ointment were data on orders for durable goods, but it failed to change the positive dynamics of the US dollar in pairs with the euro and the pound, as well as in tandem with the Japanese yen. Here, in the short term is possible testing of resistance in the area of 114th figure, and its break through will increase the ascending impulse that should be consider by the IAFT traders.
Best regards, AffiLinks
International Association of Forex Traders
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