07, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The ECB decided not to soften its monetary policy, leaving the deposit rate at zero. Draghi in his speech raised forecasts for economic growth in the Eurozone.

Euro-zone published a positive retail sales report for January - index came in at 1.6 % m/m, better than the forecast on 0.7%. ADP and ISM in services came out worse than market expected, indicating a continuation of the economic downturn in the United States. This in turn can also have a negative impact on the pace of euro-zone’s GDP.

The pair GBP/USD showed an upward trend during the day, gaining 0.4 % in weight. The Markit Economics published a mildly positive report on PMI index for services in February - but the "bulls" have been waiting for a good release in the UK and happily began to open the long positions.

The weak reports from the United States in the level of employment, as well as the ISM index in the services sector, which showed minimum values in February 2010.

The pair USD/JPY has completed the trading day with a growth. After steady demand on Wednesday - Thursday amid consolidation in the world's leading stock exchanges, as well as the negative macroeconomic statistics from the U.S. - the "bulls" during the day partially fixed profits on the long positions, which hampered the quotations growth.