The EUR/USD is rising on Tuesday, trading around 1.1348. The NAHB housing reports, although usually not that important, has still somewhat influenced the dollar. The housing business activity index was expected to rise to 63 but in fact it remained unchanged at 62.
Meanwhile, the two-day Fed meeting starts today, with the Chair’s press conference tomorrow. The USD traders are worried whether the US central bank is going to reduce the number of hikes this year.
Other than that, there are few fundamental news for the pair. Both Germany and the EU are releasing the ZEW report on Tuesday, the one that measures the optimistic and pessimistic looks over the EU economy. The indicator is expected to rise a bit. ZEW does not very much influence the EURUSD, but is good to get a grip of the market situation.
Meanwhile, the US durable goods in January are expected tonight. The index may have risen by 0.30% against 0.10% MoM in December. Basically, the data are mostly known, as the durable supplies have already been released. This indicator does not influence the EURUSD a lot either.
Orgin: RoboForex
