For the FOREX currency market, the last week turned out to be low-key and low active - the currency instruments hesitantly traded within narrow ranges, as trading activity was below the average.
Today, in addition to the important American block of data( industrial production and the University of Michigan index), the market focus was on the long-awaited figures of European statistics-inflation data.
Yesterday, European currency moved to the strengthening amid the data on US inflation, the data were not strong enough to support USD dollar. US equity markets tried to grow while the EUR / USD pair was able to gain to the area of $ 1.2410.
For last 24 hours, the situation in the main FX pair EUR / USD practically has not changed.
Today on Monday, the economic calendar does not contain important macroeconomic data, so the influence of fundamental factors is limited and the market will be under the influence of technical factors.
EUR/USD volatility has significantly increased in the last trading sessions.
After European currency updated the low of January 18, today EUR / USD is developing upward corrective impulse to the area of 1.2300-1.2320.
EUR / USD continues to decline amid the strengthening of the US currency after the first official speech by the new Fed Chairman Jerome Powell earlier this week.
After the impressive Friday decline EUR/USD remains under pressure today -on the first day of the new trading week.