Forex. Euro/Dollar (EUR/USD) forecast for today.
Positive trading dynamics was observed throughout the trading environment.
The yield on 10-year US bonds has declined from the March highs and is now at 2.351%.
The bidding process is still influenced by the hope that the war in Europe will end soon. The recent negotiations between the Ukrainian and Russian sides have created optimism in the financial markets.
Meanwhile, the composite index of business and consumer confidence in the eurozone in March fell to 108.5 points against 113.9 points a month earlier, according to data from the European Commission. The indicator value turned out to be the lowest since March last year.
Experts on average predicted a more moderate decline, up to 109 points, according to Trading Economics.
The decline in the composite index is mainly caused by a decline in European consumer confidence due to rising inflation and events in Ukraine. The indicator of consumer confidence in the eurozone in March collapsed to minus 18.7 points against minus 8.8 points last month, coinciding with the consensus forecast.
Today, the focus will be on the data of the Eurozone and the US labor market — the change in the number of unemployed in Germany, the unemployment rate of the Eurozone and the number of initial applications for unemployment benefits in the US.