US Dollar advanced against the euro and major currencies as low inflation rate in eurozone has increased demand for greenback. Besides, Oil and commodities prices decline may lead to intensify the deflation in eurozone and increase pressure on European Central Bank to engage in monetary policy easing anytime soon. The single currency remains under selling pressure ahead of ECB monetary policy meeting and U.S. Nonfarm payrolls report this week.
After have completed the pullback EUR/USD prices are still trading below the lower line of the bearish Flag. Prices have found temporary support around $1.2450 ahead of major news this week including ECB meeting and job report in U.S. We expect the pair will resume its decline toward the flag potential target and take profit zone around $1.2170. Due to divergence between central banks, any rally of the pair would represent good opportunities to enter sell positions.
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Euro Zone Low Inflation Rate Pushed The EUR/USD Down
Published 12/01/2014, 03:12 AM
Updated 05/14/2017, 06:45 AM
Euro Zone Low Inflation Rate Pushed The EUR/USD Down
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