eToro – Forex Trading Forum

[BlueinGreen]

hi all ,

we had a strong start for the dollar so far this week, after last week's correction to 1.49 on EURUSD, and 108.13 on USDJPY
The market is concentrated very much on crude oil price- which had dropped under $115, supporting the dollar in its advance.

in edition some bad GDP data out of U.K on Friday increased the worries in the Eurozone – and raised the possibility of European Central Bank and Bank of England monetary easing – cutting rates some time in the near future.

tomorrow we have the important German Ifo Business Climate Index report which is a leading indicator for Europe's biggest economy. bad figures can easily push EURUSD down under 1.47 and further.

Main events today -

England - Holiday: Summer Bank Holiday

3:00pm USD Existing Home Sales Forecast 4.92M Previous 4.86M

11:45pm NZD Trade Balance Forecast -0.53B Previous -0.22B


Existing Home Sales = Measures Annualized number of residential buildings that were sold