Dear investors, welcome to a new trading week where all eyes are on the meeting of the European Central Bank (ECB) which will take place next Thursday, March 10th. In this meeting is expected that the European institution will continue expanding its stimulus programs and if this does not occur, the european stock indices would suffer but the Euro will rise. From the other side of the Atlantic continue the aftermath of employment data published in the US last Friday, March 04, which reflect a good result in terms of job creation, but there is an indicator that does not like anything to investors. According to the employment report, the wages decrease and this does not please the market.
In the early stages of week we observed absolute stability in currency crosses with the US dollar. These pairs opened the week very close to the closing prices of Friday and are continuing with their trends.
- EUR/USD maintains an imperceptible upward pressure of 0.01% at the 1.0992 level.
- GBP/USD fell insignificantly -0.01% reaching 1.4209. Then it lowered to about 1.4150 and shortly thereafter rose sharply to 1.4280.
- USD/CHF presents minimal losses of -0.06% at level 0.9936.
- AUD/USD found support at its opening price of the week at 0.7407, so it began to rise from that level.
The yen currency crosses traded in negative territory minimally:
- USD/JPY fell -0.14% to a level around 113.69.
- EUR/JPY present losses of -0.12%. reaching the psychological area of 125.00.
- GBP/JPY is also placed in negative territory with a loss of -0.14% and now is trading near 161.51 level.
Opening prices for the day in the major pairs are:
- EUR/USD: 1.0991
- USD/JPY: 113.83
- GBP/USD: 1.4211
- EUR/JPY: 125.13
- USD/CHF: 0.9945
- AUD/USD: 0.7407