EURUSD is expected to move more actively today; investors are back to trading.
The major currency pair is sliding down slowly on Tuesday morning. The current quote for the instrument is 1.1247.
There were “roller coaster rides” yesterday on the market despite the fact that most investors were out of the market due to Easter holidays. The numbers from the USA weren’t inspiring: the Existing Home Sales was 5.21M in March after being 5.48M in the previous month. The indicator was expected to decline, but not as much. Of course, it put additional pressure on the USD.
In the nearest future, the demand for the American currency as a “safe haven” asset may increase due to possible escalation in relations between Washington and Tehran.
Few reports that are scheduled for today will be published later in the evening.
The Euro Area will report on the Consumer Confidence in April, which is expected to remain unchanged at -7 points. The report is quite neutral for the European currency.
In the evening, the USA are going to present the New Home Sales in March. Market expectations are 647K against the previous reading of 667K. The report is YoY, that’s why the picture is quite true. The index is usually very high at the beginning of the year and then it starts going down a bit. As a rule, it reaches stability close to its average values. In this particular case here, EURUSD won’t pay much attention to the report if there is no significant drawdown.