empty
 
 
25.05.2018 09:32 AM
The ECB will not hurry

The publication of yesterday's minutes of the ECB meeting held on April 25-26 did not lead to a sharp purchase of the European currency, but only forced investors to pay closer attention to the future statements of ECB President Mario Draghi and the decisions of the Central Bank.

The slowdown in the euro zone's economic growth in the first quarter of this year crosses out all the plans of the European regulator to quickly curtail the stimulus program through bond redemption.

In addition, the Protocols also contained concerns about the protectionist policies that the White House is pursuing against a number of countries, including the countries of the European Union.

ECB leaders warned at the April meeting that trade conflicts could damage economic growth in the euro area, as they increase uncertainty and reduce confidence. The report also indicates that trade conflicts can also destabilize financial markets.

Such statements hardly coincide with the plans of the ECB to start winding down the program, under which the regulator buys assets on a monthly basis of 30 billion euros, which is likely to affect the timing of an increase in interest rates in the euro area.

Data on the labor market in the US yesterday had a slight pressure on the US dollar, but it did not lead to a significant change in the forces on the market. The trend remains on the side of buyers of the US dollar.

According to the report of the US Department of Labor, the number of initial applications for unemployment benefits for the week from 12 to 19 May increased by 11,000 and amounted to 234,000. Economists had expected the number of applications last week to be 220,000. The moving average of applications increased by 6250 and amounted to 219,750.

This image is no longer relevant

Data on home sales also had a negative impact on the US dollar.

According to the report of the National Association of Realtors, sales in the secondary housing market in April this year decreased by 2.5% and amounted to 5.46 million homes per year. Economists predicted that sales in April will drop to 5.55 million homes a year. In comparison with the same period of the previous year, sales in April fell by 1.4%.

Yesterday's statements by US President Donald Trump, who canceled the summit with North Korea, scheduled for June 12, led to a sharp purchase of assets-shelters, which include the Swiss franc, the Japanese yen, and gold.

As for the technical picture of the EUR / USD pair, the breakthrough of the intermediate support of 1.1690 will lead to a new wave of large sales of risky assets, with a yield to the lows of 1.1660 and 1.1630.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback