Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down.
According to Christian Noyer, the ECB is not going to ease the monetary policy because of the strong inflation in Eurozone. And while some European countries vote for a weaker euro (to support national exporters), ECB is standing strongly against any actions that will accelerate the CPI, which is above the current central bank’s target rate.
Many currency analysts expect euro to continue its bullish trend against the greenback as it’s now clear that the European interest rates are not going to be reduced in the near months. EUR/USD can reached 1.6500 in the next 3 to 6 months according to them.
Existing home sales in U.S. also helped dollar to fall against the euro — according to the report by the National Association of Realtors in March they fell from 5.03 million to 4.93 million (at annual rate).
EUR/USD went up from 1.5910 to 1.5996 today on Forex with the daily maximum at 1.6011- a new absolute record for this currency pair.
ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section |
ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.
Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.
No comments:
Post a Comment