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Old 22-02-2021, 14:38
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. February 22, 2021 Euro grows weakly from the level of 1.2100

Last Friday, trading closed at 1.2100, and today the pair opens the day with growth to 1.2130. The European currency is supported by strong macro statistics from the Eurozone.

In particular, the February business activity indices of the Eurozone manufacturing sector were published last Friday. The indicator rose to 57.7 points against the forecasted decline to 54.3 points. The composite PMI of the euro zone was 48.1 points, while analysts had expected an increase to 48 points. At the same time, the indicator remains below the level of 50 points for the fourth month in a row, which indicates a decline in economic activity in the region.

On Monday, support for the European currency was provided by the data on the business climate index from IFO in Germany: the indicator rose from 90.3 to 92.4 points. Analysts had expected the index to reach 90.5 points. The index of business expectations in the largest European economy also came out better than forecast, showing an increase from 91.5 to 94.2 points.

The trading day promises to be calm, as the macroeconomic calendar is almost completely empty today. In the evening hours, you should pay attention to the speech of the ECB Heads Christine Lagarde.
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