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Tuesday, April 3rd

The EUR/USD pair follows broad market trend this Tuesday and corrected above the level of 1.2300 after yesterday’s drawdown to the level of 1.2282. The renewed retreat of the US dollar, which is explained by escalation of the conflict between the US and China, remains the main theme across the market, allowing the pair to recover its positions. Moreover, broad risk aversion is another positive factor, which supports the pair somewhat this Tuesday. Looking ahead, today the EU calendar will bring us slew of local PMI reports, while the US will offer investors several Fedspeaks, which expectedly won’t have significant effect on the pair, so widespread market trend will remain as the key driver for pair after Easter holiday.

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