Weekly Forecast For The Euro / Dollar Exchange Rate

This prompted the Pound to US Dollar exchange rate to return to an uptrend in the region of 1.2472, particularly as political jitters weighed on the 'Greenback'. Towards the close of Monday's European session the British Pound to US Dollar exchange rate was slumped around 1.2475, in spite of weaker US data. Confidence in Pound picked up on Wednesday morning in response to an unexpectedly strong UK services PMI, which eased worries over the economy's resilience. However, Wednesday's Federal Open Market Committee (FOMC) meeting minutes are likely to provoke greater volatility for the GBP USD exchange rate. Brexit Tensions Extend GBP USD Exchange Rate DowntrendTensions continued to flare between the UK and EU at the start of the week, with the Pound US Dollar exchange rate coming under pressure as the matter of Gibraltar took centre stage.


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Euro Dollar Exchange Rate Remains Flat Due To Persistent Safe Haven Demand

EUR USD Data Releases06/04/2017:06:00 EUR German Factory Orders s.a. (MoM) (FEB) Low06:00 EUR German Factory Orders n.s.a. Eurozone Data Fails to Inspire Euro to US Dollar RecoveryEUR/USD really hasn't seen much movement this week so far. (YoY) (FEB) Medium07:00 EUR ECB President Draghi speaks in Frankfurt High07:30 EUR Markit Germany Construction PMI (MAR) Medium08:10 EUR Markit Germany Retail PMI (MAR) Medium08:10 EUR Markit Eurozone Retail PMI (MAR) Low08:10 EUR Markit France Retail PMI (MAR) Low08:10 EUR Markit Italy Retail PMI (MAR) Low12:30 USD Initial Jobless Claims (APR 01) Medium12:30 USD Continuing Claims (MAR 25) Medium US Dollar (USD) Holds Ground on 'Safe Haven' DemandThe US Dollar hasn't benefitted considerably from domestic news this week and is instead holding its ground as forex markets look for 'safe haven' assets to store their investments. Demand for the US Dollar was little changed following the publication of the afternoon's US data.




At the time of writing this update, the Euro to US Dollar exchange rate trended in the region of 1.0660. However, with worries over the Greek bailout review and the French presidential election persisting the Euro US Dollar exchange rate remained on a narrow downtrend. EUR/USD Forecast: Fed Meeting Minutes on WednesdayWednesday will be an important session for Euro to US Dollar trade. US Dollar (USD) Strengthens on 'Safe Haven' RallyUnexpected turbulence and uncertainty in global markets this week has led to an increase in demand for 'safe haven' correlated assets. Demand for the US Dollar improved just slightly on Wednesday afternoon when ADP's US employment change report beat expectations.


collected by :John Miller

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