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EUR/USD Fundamental Update 1 Mar 17

Good day forex traders.

Welcome to our fundamental update of the EUR/USD currency pair. I hope your trading is good so far.

We are observing an increase of upside pressure as a result of a weakening US dollar.

In a report by Bloomberg, light is shed on why this is happening ”

The dollar slipped and Treasuries edged higher amid data showing tepid business investment in the U.S. even as consumers stepped up spending in the fourth quarter. American stock futures were little changed before Donald Trump’s policy speech.

The greenback retreated versus most major peers after revised growth data indicated slower investment by businesses offset stronger household purchases. The odds for a March interest-rate hike slipped below 50 percent, with yields on Treasuries little changed Tuesday. Shares of raw-material producers fell as the outlook for industrial metals worsened, while construction companies rose a second day after Trump said Monday he’ll spend “big” on infrastructure.

Even as global equities climbed to record levels, investors have remained wary as they await details of Trump’s economic policies and watch for signals on the timing for higher rates. The White House began sketching out plans Monday, as Trump followed promises of infrastructure spending with a caution that tax details won’t become clear until after the costs of repealing the Affordable Care Act are known. ”

I always mentioned that interest rates are a significant driver of demand for a currency. With the odds of a march US interest rate hike dipping, demand for the US dollar is easing too. As always, monitoring the economic data releases is crucial as sentiments are formed as an outcome of the figures. As the global economy becomes ever connected, developments in major economies should be monitored too. For example a slow down in China usually has implications to various economies around the world.

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