{"id":87613,"date":"2016-04-04T07:09:56","date_gmt":"2016-04-04T11:09:56","guid":{"rendered":"http:\/\/countingpips.com\/?p=87613"},"modified":"2016-04-04T07:09:56","modified_gmt":"2016-04-04T11:09:56","slug":"expected-euro-correction-to-1-1350","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/04\/expected-euro-correction-to-1-1350\/","title":{"rendered":"Expected Euro Correction to 1.1350"},"content":{"rendered":"
April 4, 2016<\/div>
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By Vladislav Antonov,\u00a0Alpari<\/b><\/p>\n

Yesterday”s Trading:<\/em><\/strong><\/p>\n

The euro on Friday updated the week”s maximum due to demand for the currency in the cross pairs. After the release of strong American labour market data, the buyers” position began to waver. The euro weakened against the dollar by one figure to 1.1334 on the news and from here it was snapped up. Trades closed slightly up.<\/p>\n

Job creation in the US during March stood at 215k (forecasted: 205k). January”s figure was reassessed from 172k to 168k and February”s from 242k to 245k. Unemployment was up 0.1% to 5.0% (forecasted: 4.9%, previous: 4.9%). Average hourly earnings for the US in March were up 0.3% (forecasted: 0.2%, previous: -0.1%).<\/p>\n

Market Expectations:<\/em><\/strong><\/p>\n

On Monday I don”t bother looking at the planned economic data. On my forecast I”ve gone for a weakening of the euro against the US dollar to 1.1350 due to a downward correction of the euro\/pound cross.<\/p>

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Until the price drops below 1.1334 (Friday”s minimum) a fall to 1.1350 will be seen as a correction against the growth from 1.1143 to 1.1437.<\/p>\n

From 1st<\/sup> April, the ECB extended its QE program in which it will purchase bonds, including corporate ones. The Bank”s actions will have a negative effect on the euro.<\/p>\n

Day”s News:<\/em><\/strong><\/p>\n