Daily economic digest from Forex.ee
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Wednesday, April 26th
The EUR/USD pair lost its upside momentum in early Europe and reversed most part of its overnight gains, amid minor attempts of the US dollar to recover its positions. However, seems that the euro is still keeping its optimism, as traders are pricing in E.Macron’s win at the second round of French election on 7th of May. Moreover, ongoing weakness of the US currency, fueled by doubts that the US government will be able to provide any details on tax reform plans today, is also lending additional leg of support to the major currency pair. Besides taxation plan’s announcement, nothing noteworthy is scheduled in data calendar for this Wednesday, so broad market’s sentiments will remain as a key driver for the pair, however, any abrupt moves will be restricted today, as traders are staying cautious ahead of tomorrow’s ECB Interest Rate Decision.
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