Connect with us

Analysis

EURUSD is back inside its range. Overview for 23.02.2022

EURUSD remains active; the asset is getting back inside its range.  

The major currency pair keeps responding to the external background changes. The current quote for the instrument is 1.1354.

The demand for the “greenback” as a…

EURUSD remains active; the asset is getting back inside its range.  

The major currency pair keeps responding to the external background changes. The current quote for the instrument is 1.1354.

Advertisement

The demand for the “greenback” as a “safe haven” asset remains high; however, investors are no longer overreacting and the global market is reaching stability. 

The statistics published yesterday showed that the Conference Board Consumer Confidence in the US dropped to 110.5 points in February after being 111.1 points the month before. The actual reading is weak but market expectations were much worse. 

Advertisement

The components of the report show that the Present Situation Index increased to 145.1 points, while the Expectations Index dropped to 87.5 points. 

The preliminary data on the Markit Manufacturing/Services PMIs showed 57.5 and 56.7 points in February after being 44.5 and 51.2 points respectively in the previous month. 

Advertisement

The numbers are quite strong but they definitely include corrections after the January decline due to the coronavirus. 

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.