{"id":91244,"date":"2016-06-13T07:04:36","date_gmt":"2016-06-13T11:04:36","guid":{"rendered":"http:\/\/countingpips.com\/?p=91244"},"modified":"2016-06-13T07:04:36","modified_gmt":"2016-06-13T11:04:36","slug":"expected-euro-correction-to-1-1285-after-friday","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/06\/expected-euro-correction-to-1-1285-after-friday\/","title":{"rendered":"Expected Euro Correction to 1.1285 After Friday"},"content":{"rendered":"
June 13, 2016<\/div>
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By Vladislav Antonov, Alpari<\/b><\/p>\n

Previous:<\/em><\/strong><\/p>\n

The euro\/dollar was trading above the 112th<\/sup> degree on Friday before the American session. The rate was under pressure due to the dollar strengthening. This was caused by a weakening of the British pound after the publication of new Brexit survey results. According to data from the ORB for The Independent newspaper, 55% of respondents are ready to vote leave, with 45% to vote remain. The euro by US trading close was down to 1.1245.<\/p>\n

The stats didn”t have much effect on the key currencies. The US consumer confidence index fell from 94.7 in May to 94.3 in June. It was forecasted to fall to 94. The index for consumer expectations fell from 84.9 to 83.2, with the index for current economic conditions rising from 109.9 to 111.7.<\/p>\n

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

As you know, my Monday”s forecast always goes against Friday”s movements. The euro has updated its minimum in Asia. The dollar was being sold for 1.1250 euros at 7:14 EET. I expect a correctional movement to 1.1245 for the American session.<\/p>

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Market participant attention has drifted to the FOMC meeting on 15th<\/sup> June. The likelihood of a rate rise this month has fallen to 2%. The announcements made will be important for traders as they could hint at the date when rates will rise.<\/p>\n

Day”s News (EET):<\/em><\/strong><\/p>\n