Euro Dollar To Bottom Up To Focus On The ECB Resolution

< p > on Friday (March 28th), the New York a href= "http://www.91se91.com/news/index_c.asp" > Euro < /a > rebounded against the US dollar. During the day, the euro fell to the lowest level of 1.3704 against the US dollar, but after that, the exchange rate recovered from the low and broke through the daily high, and now it is trading near 1.3753.

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< p > the economic data released by the United States on the market are mixed, and many investment banks including Morgan chase, Goldman Sachs and Barclay have lowered the US's first quarter GDP expectations, which has pressed the US dollar and supported the euro's rise.

Now the market is turning to next Thursday when the European Central Bank (micro-blog) will hold interest rate decisions, and the market will get more guidance from the European Central Bank's future policy direction.

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< p > a number of investment banks in the market lowered the US first quarter GDP forecast.

JP Morgan lowered the US GDP growth forecast from 2% to 1.5% in the first quarter, while Goldman Sachs lowered its GDP growth forecast from 1.6% to 1.5% in the first quarter of the United States, mainly because the consumer spending data in the United States were downgraded last month. Barclays also lowered the US GDP growth rate from 2.4% to 2% in the first quarter, because the consumer spending data in the United States were downsized last month.

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< p > New York intraday, the United States released < a href= "http://www.91se91.com/news/index_c.asp" > economic data < /a > good or bad, the impact of the euro to the US dollar is relatively limited.

The US personal income monthly rate rose 0.3% in February, better than expected. The US core PCE price index in February was unchanged from the previous value while the US University of Michigan consumer confidence index was not as good as expected.

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Hilsenrath, known as the Federal Reserve news agency, points out that "a href=" http://www.91se91.com/news/index_c.asp "> the Federal Reserve" /a "implies that officials have not yet decided on the technical decisions needed before raising interest rates. It is estimated that Fed officials will also manage interest rates through the excess reserve ratio, and Fed officials have made slow progress in the discussions on the management of interest rate raising mechanisms.

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< p > the current market focus has shifted to the ECB interest rate resolution next Thursday (April 3rd). The current market expects the ECB to maintain its interest rate unchanged.

This week's comments by ECB officials sparked speculation that the central bank would further relax its monetary policy.

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Wiedemann, chairman of the European Central Bank and German central bank governor, said on Tuesday that the central bank could implement various measures to curb the euro's rise and fight deflation. P

In addition, ECB President Delaki also said the central bank is ready to take action if the inflation rate falls below the central bank's expected level.

The announcement after the interest rate resolution next week will give more guidance to the market.

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P, technically, the euro is weaker than the US dollar in the 4 hour chart.

Technical indicators MACD (12, 26, 9) main line and signal line are currently running below the zero axis, indicating that the price trend is emptiness.

The relative strength index RSI (14) is located below the 50 equilibrium position, indicating that the price dynamics are empty.

Prices are expected to fall further.

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