EURUSD has improved over the last 24 hours; the asset continues recovering.
The major currency pair climbed into positive territory. The current quote for the instrument is 1.1155.
Demand for the “greenback” as a “safe haven” asset dropped over the last 24 hours: investors’ risk attitude went up and they are ready to move on.
Yesterday, one of the ECB representatives said that the regulator might raise the benchmark interest rate this year. At the moment, the significance of the monetary strategy predictability is very important: one shouldn’t make things more uncertain than they are right now.
CMEs imply a probability of the ECB rate hike this year but it is rather unlikely.
The CB Consumer Confidence in the US went from 105.7 points in February to 107.2 points this month, which is a bit better than expected. It’s good news – consumers help to keep the economy stable.
Today’s trading session might be highly volatile for EURUSD. In addition to the fact that the European bond yield is very sensitive to the news, there will be some statistics.
Germany will report on the CPI in March, which is expected to skyrocket. The US will start releasing the labour market data for March. As usual, the first report to be published is the ADP Employment Change, which is expected to show 450K after being 475K in the previous month.
Another important release is the final GDP for the fourth quarter of 2021, which may show 7.10%.
Strong reports will support the “greenback”.
