EURUSD

Euro / US dollar

The agenda includes business activity in the service sector of different countries, summary indicators of business activity, US production orders and retail sales in the Eurozone.

The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.

Obviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.

European Central Bank President Christine Lagarde stated that inflation expectations should not change. People should be confident that price growth will return to the target level.

Central banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.