It was another week full of events, geopolitical news and economic indicators releases. As the Forex pairs charts show the fluctuation weren’t always slight and developed an interesting outlook ahead of April which has just begun.
EUR/USD gained over 0.5%
Let’s begin with EUR/USD. Of course this pair is significantly affected by the slowly ceasing (?) conflict between Russia and Ukraine. As we can see on the chart there was a huge rise on Tuesday as the tensions were reported to loose its momentum. Cease fire has been said to come shortly and this optimism seems to had remained till the end of the week. There’s no doubt today’s fluctuations were caused by the release of NFP. The following week’s FOMC Meeting Minutes will surely let us have a closer look of dollar’s rate future.
EUR/GBP gained ca. 1.1%
EUR has been fighting all the week to finally beat British pound. It seems that the single currency needs to be triggered, but only a little, to rise significantly. Naturally these supporters were positive news about cease fire in the eastern Europe. In the following week BoE’s Bailey speaks and we can expect that it will be an introduction to next monetary policy decisions.
USD/CHF – Swiss franc strengthened…
The beginning of the week wasn’t so optimistic for CHF. Before the news coming from Ukraine it was losing the fight with dollar. The situation got better after positive news about possible cease fire.
USD/PLN – Zloty feels good
Poland lies close to the area where the conflict takes place. Because of corelations and other factors Polish zloty was hit several times. After tightening of monetary policy (next decisions to come shortly) and optimistic signals from Ukraine zloty strenghthened again gaining 1.6% over the week.
Source/Data: TradingView.com
Charts: Courtesy of TradingView.com
