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Old 03-01-2017, 04:45 AM
AppleFX AppleFX is offline
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Default Re: Economic and company news by ForexMart

EUR/USD Fundamental Analysis: March 1, 2017

The USD kicked off March on a very positive note after the US dollar was given a boost by some of the most unlikely sections, the source from which the USD gained its weakness. The market has been constantly skeptical with Trump’s policies ever since his inauguration, and this has put immense downward pressure on the value of the USD and has helped to keep the EUR/USD pair buoyant. The dollar was also unable to take hold of its own value since the majority of investors are not convinced with the overall viability of the US dollar.

However, the market eventually became used to Trump’s way of implementation and his policies as the year progresses and the stock market has also responded well to Trump’s latest implementations. Trump has recently announced yesterday that his administration will be executing large-scale tax cuts for corporations which will increase the competitiveness of US-based corporations in the international arena. In addition, the EUR/USD pair also decreased further after Trump announced his proposed guidelines for adding up the country’s infrastructure spending.

This, in addition to the market probability of a Fed rate hike this March increasing, has caused the US dollar to soar significantly across the board and has affected all major currencies in one way or another. For the EUR/USD, the pair’s value plummeted past 1.0600 points and is currently trading at 1.0550, with the outlook for currency pair looking very weak. If the USD continues brandishing its strength, then the currency pair might soon hit 1.0500 points. The US will be releasing its Manufacturing PMI data today, and the current trend for market is expected to be the recent strength of the US dollar.
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