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Friday, February 24th
The EUR/USD pair extends its recovery from 1-1/2 month lows, posted just a few pips below 1.05 level on Wednesday, and now is trading at 1.0598 spot. Pair’s strong recovery could be explained by lack of details on Trump’s “phenomenal” tax reforms in recent US Treasury Secretary S.Mnuchin’s speech, that has only intensified sell-off around the dollar. Moreover, recent FOMC Meeting Minutes, classified by market as dovish in response to lack of any indicators on Fed rate hike’s date, continue to fuel broad dollar’s retreat. However, growing concerns over French elections and economic situation in Greece are limiting pair’s further gains. Today the docket of Eurozone will keep silence, while the US economy will publish only New Home Sales report during NY trades, so the pair will continue to follow global markets sentiments until the US release.