Hi all,
The euro rallied against the dollar on Friday after budget cuts in Spain and Euro zone finance ministers agreed to boost their rescue fund by a fresh 500 billion euros on top of 300 billion euros already committed on the past to contain the region's debt crisis.
The euro remains vulnerable as markets head into the second quarter, we expect the euro could resume its decline in the coming quarter on concerns about recession in Europe and indebted countries such as Spain or Italy may need additional bailout.
U.S. data will remain the key catalyst in the second quarter, including FOMC Meeting Minutes and non-farms payrolls next Friday to push the EUR/USD prices outside the trading ranges of 1.3200—1.3400.
Source mbcfx.com
The euro rallied against the dollar on Friday after budget cuts in Spain and Euro zone finance ministers agreed to boost their rescue fund by a fresh 500 billion euros on top of 300 billion euros already committed on the past to contain the region's debt crisis.
The euro remains vulnerable as markets head into the second quarter, we expect the euro could resume its decline in the coming quarter on concerns about recession in Europe and indebted countries such as Spain or Italy may need additional bailout.
U.S. data will remain the key catalyst in the second quarter, including FOMC Meeting Minutes and non-farms payrolls next Friday to push the EUR/USD prices outside the trading ranges of 1.3200—1.3400.
Source mbcfx.com