Forex. Euro/Dollar (EUR/USD) forecast for today.
A strong signal for sellers is that the eurodollar chart has formed a downward movement. In case of further strengthening of the US currency, we can expect support to reach 1.1275.
The yield on 10-year US Treasury bonds is approaching its recent maximum, and is now at 1.854%.
The dollar declined slightly at the beginning of European trading on Wednesday, then consolidation began. Earlier, the course of trading was influenced by an increase in bond yields and a significant decrease in risk appetite, when the US market started working again on Tuesday after the weekend was extended due to the holiday.
The main driving force of recent trading was fears of inflation, and expectations of tough actions by the Federal Reserve System to contain it. But at the same time, talks about raising the official interest rate by 50 basis points at the March Fed meeting are still actively underway, and short-term futures on the money market have begun to indirectly take into account this risk.
Today in the USA, the publication of the number of initial applications for unemployment benefits, the index of production activity of the Philadelphia Federal Reserve, and sales in the secondary housing market will take place.