Daily market review 20 March

10:00 * Producer Price Index – February (Germany)
In January, this indicator was fixed at the maximum levels, both in annual terms, and in the ratio of month to month. Further growth of this indicator is a very good indicator of the health of the German economy and as a result can provide additional support to the euro – moderately.
* Eurogroup Meetings – March (Eurozone)
15:30 ** Wholesale Sales – January (Canada)
The change in this indicator has a weak effect on the Canadian dollar, so only a deviation from the forecast value may be accompanied by an increase in trading activity. When trading the Canadian dollar, it is necessary to monitor the dynamics of the movement of oil prices, as it has a significant impact on the Canadian currency.
19:45 ** ECB’s Jens Weidmann Speaks – March (Eurozone)
20:10 ** FOMC Member Charles Evans Speaks – March (United States)
21:20 ** MPC Member Andy Haldane Speaks – March (United Kingdom)
The fall of the US dollar since the beginning of European trading will support our idea of ​​EURUSD growth, and, judging from the dynamics of the pair in recent weeks, the charge will be much higher than we expected on Friday. The target 1,0800-1,0820 can safely move to the area 1,1000-1,1070. Concerns about elections in Germany, etc. Now will be a secondary factor of influence. First, the market plays out the forthcoming monetary policy of the US Federal Reserve in 2017 and political risks.
23:30 GMT** The speech of US President Donald Trump is scheduled. Exactly exactly two months from the day of the inauguration and fear for the dollar creates the dynamics of confidence in the new leader of the country. So, now only 37% support Trump, and against 58% of respondents. Two months ago, forces were distributed in a 45% to 45% ratio.

Our prognosis for the yen, for the time being, also does not threaten anything. The sales target is kept at the level of 111.40.

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