EURUSD: EUR victime of week US data & FOMC
Well when asked how US can weaker its currency, there was little room a manoeuvre for FEd and except lowering more its interest rate, or buying some EU tresory bonds, there wasn't a lot of possibilities, but to have weak economic datas.
Yet FOMC meetings are very important and to see that the forecast didn't meet reality shows that economy is not always as predictible. Having said that, now we need to see how EUROPE and its market will react and particularly ECB since the European institution did not modify its policy which is lowering the EUR against USD so that Eurozone could import inflation through commodities prices.
Since there is a good move on the upside for commodities, the question to ask and the answer to find is if this level is enough or not. And yet ECB did not meet its target. So we will have to wait and see. But bare in mind that ECB will put another 60 bio € on the table next week and the Greek debt is still a problem. So there is room for EUR to loose ground.
Yet FOMC meetings are very important and to see that the forecast didn't meet reality shows that economy is not always as predictible. Having said that, now we need to see how EUROPE and its market will react and particularly ECB since the European institution did not modify its policy which is lowering the EUR against USD so that Eurozone could import inflation through commodities prices.
Since there is a good move on the upside for commodities, the question to ask and the answer to find is if this level is enough or not. And yet ECB did not meet its target. So we will have to wait and see. But bare in mind that ECB will put another 60 bio € on the table next week and the Greek debt is still a problem. So there is room for EUR to loose ground.
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