After the decision to leave the refinancing rate unchanged, the market participants are looking at the three key economic indicators – the labour market, inflation and GDP. At the moment, the US are having no problems with the growth of GDP and the economy is developing steadily. However, keeping the paces up is a very important for the health of the economy.
Should the GDP data turn out to be disappointing it will have a negative effect on the US dollar.
Apart from US GDP data further “Brexit” issue will be massively discussed next week. Will EU fall apart after the “Brexit” or not – that’s the key factor. The Leader of the National Front (France) Marine Le Pen is calling for “Frexit”. Most likely such countries as Belgium and Finland will also use their right to hold a referendum.
Sure, there are still a lot of things to be done and England is yet to leave European Union, cause the parliament has to take this decision, but overall stability of European Union suffered and investors do not like it.
EURUSD chart:
Sure. British Pound and European currency decreased the most, but part of rate decrease has already been considered by the market participants. Even though the rate decrease was massive it did not cause any other issues.
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