The Euro moved to the five months’ high. Overview for 27.03.2017

The main currency pair continues moving to the upside on Monday; the market is against the USD.

On Monday, the Euro moved to the five months’ high. The current quote for the EUR/USD pair is 1.0895. yet, the instrument may reach the area between 1.0915 and 1.0920.

Most likely, it’s not about the strength of the Euro, but the weakness of the USD. Last Friday, they withdrew the USA healthcare system reform bill. On paper, it was supposed to replace the Obamacare strategy. Republicans took a dim view of this initiative, and, as a result, it didn’t earn enough votes and failed.

Bad luck seems to follow Donald Trump’s office. Without changing the Obamacare program, Trump won’t be able to get enough funds to reform the taxation system of the country. This makes the USD weaker.

All these negative news, which is falling of the USD, beats the European fears of Marine Le Pen’s possible election victory in France. During her election campaign, Le Pen, a famous Eurosceptic, keeps telling about her intentions to exclude France from the EU, because the alliance outlived its usefulness. And this is what frightens people. Her opponent, Emmanuel Macron, don’t deliver such bold statements and that’s why seems more attractive to voters.

RoboForex Analytical Department