Key Points:
- Euro slips to $1.0370
- Oval Office Drama
- This week's event
Traders gave up hope for a stronger European currency after Friday's meeting with Trump and Zelensky.
✔✔️ Euro flips the script
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Eurusd The pair were trying to find the groove on Monday morning. The old continental currency exceeded its 50-day moving average and sold around $1.0390 in the open. Shortly afterwards, the Eurodollar pair returned above $1.04. - The extremely unfortunate and unpleasant Friday meeting was behind the last leg as the traders were rushing to grab more dollars.
⚔⚔️ White House Jitter
- President Trump and Ukrainian President Zelensky discussed peace deals in his elliptical office, but the discussion quickly became hostile and Zelensky had to leave the White House after denounced the leaders Trump and his VP JD Vance fought. Trump later said that Zelensky “is not ready for peace.”
- As the debate fell apart and no resolutions or deals reached, the dollar was again in Mojo and rose across the Forex Commission.
🎨 The gust of this week's news
- Looking forward to it, leadership discussions are likely to give you another chance, but there is a line of news planned to stir up the forex space. This week, both Europe and the US will sprint through the headlines that drive the market. Let's check them out.
- Eurozone's February inflation data is scheduled for Monday, followed by the US ISM manufacturing index on the same day. The European Central Bank is expected to cut interest rates by 25 basis points on Thursday. Friday is a double Wammy. The February Non-Agricultural Salary Report (Employment Data) will feature a speech from Federal Reserve Chairman Jay Powell.
