EUR / USD
Despite favorable macroeconomic statistics for further strengthening of the dollar, the euro slightly corrected on Tuesday amid the confusion of government bonds in overcoming the "last line of defense", followed by a psychological breakdown of investor sentiment which were the latest bulls of the euro. It's about overcoming the 3 percent level of America's 10-year-bonds yield. The result reached 3.003% and rolled back to 2.980% yesterday. Investors did not dare to attack the lower limit of the three-month consolidation at 1.2210-1.2410 without external support. This partially closed the sale.
The German business sentiment index of the Ifo fell more than expected for the month of April: 102.1 against the forecast of 102.7 and 103.3 in March. The index of sentiment in business circles in Belgium against the forecast of decline to -0.6 increased from 0.1 to 1.0 points.
In the US, sales of new homes in March amounted to 694 thousand against the forecast of 625 thousand and 667 thousand in February (revised to increase from 618 thousand). The indicator, thus, approached August 2007. Mortgage rates are still at the levels of the third decade of February (4.66%), which contributes to active purchases on fears of its rapid rise. The index of house prices in February increased by 0.6% against the forecast of 0.5%. The S&P / Case-Shiller house price index in the 20 largest US cities in February increased from 6.4% y / y to 6.8% y / y against the forecast of 6.3% y / y, but still to the level of 13% , which was in early 2014 is still far away. One can say that the housing boom is just beginning. The index of consumer confidence in the US from the Conference Board in the current month increased from 127.0 to 128.7.
Today, important data will not come out. However, it will be interesting to look at the change in the mortgage rate for 30-year loans, which last week was at 4.66%. Also at, stocks of crude oil will be published, which could indirectly affect the dollar. The forecast is -2.043 million barrels after -1.071 million the previous week.
Tomorrow, there will be an important decision for the ECB regarding monetary policy as well as the press conference of Mario Draghi. And if something can prevent the strengthening of the dollar, its only these events. For this reason, the euro may still linger near the level of 1.2210.
