Wednesday is expected to be busy day for the major currency pair than Monday or Tuesday.
At the beginning of Wednesday’s trading session, EURUSD is quite neutral. The current quote for the instrument is 1.1262.
In the morning, France and Italy reported on the Industrial Production in February. In France, the indicator expanded by 0.4% m/m against the expected reading of -0.5% m/m. In Italy, it added 0.8% m/m after being +1.9% m/m in January. Despite being quite positive, these reports are minor.
The European Central Bank is scheduled to have another meeting on Wednesday. Although market players aren’t expecting anything radically new from ECB right now, their attention will surely be focused on the regulator’s press conference after the event. They are waiting for new clues at multilevel rate system as well as new comments on TLTRO. Taken together, these things may make the major currency pair more volatile.
Later in the afternoon, the USA will report on the Consumer Price Index in March, which is expected to add 0/3% m/m. the more active inflation may support the USD.
Investors should pay attention to the FOMC Meeting Minutes, which may contain hints at the regulator’s further steps relating to its monetary policy, thus keeping the USD in suspense. Earlier, the US President Donald Trump came down on the Federal Reserve again for its tough monetary policy.
Orgin: RoboForex
