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Brent. April 12, 2021 | Oil rises moderately at the start of a new trading week Brent crude oil continues to trade above $63 per barrel. The current quotation of the asset is $63.80 per barrel. Today, oil prices have started to rise on optimism about the recovery of the US economy, but the new wave of Covid-19 in Asia is limiting the rise in quotations. In the United States, about 70 million people have already been vaccinated, and in Europe, after tightening restrictions, the number of new cases of the disease has declined. At the same time, a record number of cases are recorded in India and other Asian countries, which will prevent the restoration of world tourism in the near future. This week, traders will be presented with monthly reports from OPEC and the International Energy Agency. They are expected to report on the growing demand from the global economy. Against this background, Brent crude oil may resume its upward movement and go above $64 per barrel. Last week, the IMF released a forecast that global GDP will grow by 6% this year, which is the fastest pace in 40 years. Traders predict that in the 2nd half of 2021, demand for hydrocarbons will increase and be able to offset the latest OPEC + decision to increase oil production by 2 million barrels between May and July. EUR/USD. April 12, 2021 | Euro rebounds on strong retail sales data The European currency is growing on Monday, breaking above the level of 1.1900. The current quote for the EUR/USD pair is 1.1915. The euro was supported by data on retail sales in Europe. The index in February increased by 3% compared to January, while the expected growth of 1.5%. Earlier last week, a report on industrial production for February was released, which put pressure on the euro. The indicator fell 1.6% m/m, while the market was expecting a 1.6% m/m gain. A month earlier, the index was down 2.0%. The USA on Friday presented the March producer price index, which rose 0.7% against the forecast of a rise of 0.2% m/m. In January, the indicator grew by 0.2% m/m. Today, the US is to release statistics on the execution of the federal budget in March, but this data is not reflected in any way on the exchange volatility. But the comments of the chairman of the US Federal Reserve System Jerome Powell may attract attention.

EUR / USD. 08.04 | "Pin bar" from the level 1.1900 The EUR / USD currency pair has formed a pin-bar reversal pattern on the daily chart, rebounding from the resistance level of 1.1900, giving a signal to sell. At yesterday's trading, the EUR / USD price has renewed its maximum since March 23, 2020 at 1.1914. This week, the US dollar is under pressure, which allowed the pair to correct to the previously broken level of 1.1900. Apparently, the correction is coming to an end and the pair is ready to continue moving within the downtrend. It makes sense to take a closer look at the sales according to the specified pattern, while it is safer to wait for the breakdown of the EMA 21 and EMA 200 lines on the daily chart. April 08 | GBP / USD technical analysis: H4 chart, Pivot levels The pound to the US dollar at today's trading has rewritten the minimum since March 31 at around 1.3718. The price of GBP / USD has been moving in a sideways channel between the WS1 levels and the daily pivot level all day. Over the past two days, the pair has dropped by 1600 points, and today it went into correction. It is more likely that the downward trend will continue. A signal to enter the market can be the price fixing below the WS1 level. Daily Pivot - 1.3766; Daily Resistance 1 - 1.3809, DR2 - 1.3882, DR3 - 1.3925; Daily Support 1 - 1.3694, DS2 - 1.3651, DS3 - 1.3578. Weekly Pivot - 1.3794; Weekly Resistance 1 - 1.3882, WR2 - 1.3940, WR3 - 1.4029; Weekly Support 1 - 1.3736, WS2 - 1.3647, WS3 - 1.3589. Monthly Pivot - 1.3821.

USD / CHF. 07.04 | Correction to line EMA 21 The US Dollar / Swiss currency pair dropped by about 600 points in yesterday's trading, to the 0.9300 resistance level, reinforced by the 21-day exponential moving average line - EMA 21. Today, the USD / CHF price has renewed its minimum since March 23, 2020 at 0.9282, trying to gain a foothold below the 0.9300 level. If sellers push through the indicated resistance, I expect a further decline to the level of 0.9200 and below, to the point of convergence of the EMA 60 and EMA 200 lines. In case of a rebound, a new upward wave. I will watch the price for the appearance of the key level 0.9300 and the appearance of additional signals to enter the market. GBP / USD. 07.04 | "Rails" from the level 1.3900 The Pound Sterling / US Dollar currency pair formed a "rails" pattern on the chart with yesterday's daily candlestick, based on the resistance level of 1.3900, giving a signal to sell. The price of GBP / USD has renewed its maximum since March 19 at 1.3918, after which it turned around and moved to a decline. Perhaps we saw a false breakout of the 1.3900 level and the pair will return to the movement within the downtrend. It makes sense to take a closer look at sales according to the specified pattern, while it is safer to wait for the price to fix below the 60-day exponential moving average line - EMA 60.

April 06 | USD / JPY technical analysis: H4 chart, Pivot levels The pair US dollar against the Japanese yen started today trading under the daily and weekly pivot levels, then crossed them from the bottom up, but then turned around and moved to a decline. The price of USD / JPY rewritten the low since March 29 at 109.666, having tested the DS1 and WS1 levels. The pair is decreasing due to the general weakening of the American currency amid rising yields on government securities and US stock markets. Daily Pivot - 110.289; Daily Resistance 1 - 110.621, DR2 - 111.078, DR3 - 111.410; Daily Support 1 - 109.832, DS2 - 109.500, DS3 - 109.043. Weekly Pivot - 110.324; Weekly Resistance 1 - 111.278, WR2 - 111.915, WR3 - 112.869; Weekly Support 1 - 109.687, WS2 - 108.733, WS3 - 108.096.

Brent. April 02, 2021| Oil starts to grow after the OPEC+ meeting The price of Brent oil started to rise after the announcement of the results of the meeting of the heads of the OPEC+ countries. At the moment, the quotes rose to the level of $65.03 per barrel, the current price of the asset is $64.70. The alliance, contrary to expectations, decided to gradually increase oil production within three months, starting in May. In particular, the collective increase in the current production level in May will amount to 350 thousand barrels per day, in June – 350 thousand barrels per day, and in July production will grow by 450 thousand barrels per day. Thus, the OPEC+ countries will increase production by more than 1 million barrels in three months. Saudi Arabia may also cut some of its previously voluntarily assumed additional production limit of 1 million barrels per day. It is noted that the majority of OPEC+ members initially supported the extension of the existing cuts, but the general sentiment changed after Saudi Arabia (the actual leader of OPEC) offered to increase production. April 05 | EUR / USD technical analysis: H4 chart, Pivot levels The euro / dollar pair opened today directly above the weekly pivot level, then after a small upward wave broke it from top to bottom, testing the DS1 resistance, turned sharply and moved to growth. Now buyers of EUR / USD are testing the DR1 level, if successful, one can expect further growth to the 1.1800 level, to the DR2 and WR1 lines, to the area of weekly highs. When planning new deals, do not forget that trades today are held in small volumes and unexpected bursts of volatility and false breakouts of levels are possible. Daily Pivot - 1.1765; Daily Resistance 1 - 1.1782, DR2 - 1.1802, DR3 - 1.1819; Daily Support 1 - 1.1744, DS2 - 1.1727, DS3 - 1.1707. Weekly Pivot - 1.1752; Weekly Resistance 1 - 1.1802, WR2 - 1.1842, WR3 - 1.1891; Weekly Support 1 - 1.1712, WS2 - 1.1663, WS3 - 1.1622.

GBP/USD. April 01, 2021 | British sterling is moderately recovering The GBP/USD pair continues to trade in the range of 1.37-1.38. The current quote for the pair is 1.3775. Sterling received support yesterday after the publication of UK GDP data, according to which the economy grew by 1.3% in the 4th quarter of last year. The actual numbers beat analysts' forecasts for a 1.0% q/q rise in GDP. By the end of 2020, the British economy fell by 7.4% y/y against the forecast of a failure of 7.8% y/y. The pound received additional support today from the data on business activity in the manufacturing sector in Britain in March: the indicator rose to 58.9 against the forecast of growth to 57.9 points. In February, the index was fixed at 55.1 points. On the side of buyers is also the corrective weakening of the US dollar against the background of fixing positions on the eve of Good Friday and on the eve of Friday's Non-farm Payrolls. Labor market statistics from ADP were released yesterday. According to the report, the number of new jobs in March increased by 517 thousand, which fell short of the forecast of 525 thousand. The position of the British currency is also supported by the high rates of vaccination of the UK population and the related reduction in restrictive measures in the country.

The schedule changes during the Holy Easter holidays Dear clients, ForexMart congratulates you on the coming day of Holy Easter and draws your attention to some changes in the schedule and conditions of trade during the Good Friday (April 2) and Easter Monday (April 5) in the USA and Europe. Some changes will also affect the trading schedule on April 1 and 6. April 01, 2021: The trading index AUS200 will be closed at 4 p.m. April 02, 2021 (Good Friday): Trading Metals (XAUUSD, GOLD) will be unavailable all day long. Trading the following indices will be closed all day: DJ30, F40, N25, STOXX50, SWI20, ES35, HK50. The following indices will early close at 4:15 p.m.: JP225, DJ30, NASDAQ100, SPX500. Trading Shares and Energy Futures (#Brent, Crude Oil, Natural Gas) will be closed during the whole day. April 05, 2021 (Easter Monday): Trading the following indices will be closed: UK100, DAX30, F40, N25, STOXX50, SWI20, ES35, HK50. Trading AUS200 index will open later at 2:50 a.m. April 06, 2021 (Day after Easter Monday): Trading HK50 will be closed all day long. Please note these changes when planning your trading activity during the holidays. Wish you happy Easter, ForexMart team

GBP/USD. March 31, 2021 | Pound sterling is corrected after the release of GDP data The British pound is showing some strengthening today against the dollar after the publication of a block of economic statistics. The current quote for the GBP/USD pair is 1.3766. UK GDP in the IV quarter of 2020, according to the final data, grew by 1.3% q/q, while the forecast of an increase of 1.0% q/q. By the end of 2020, the British economy fell by 7.4% y/y against the forecast of a failure of 7.8% y/y. Such indicators can be considered positive, since by the end of a rather difficult year, the British economy was still able to show good results. At the same time, the property price index in Great Britain in March fell by 0.2% m/m after an increase in February by 0.7% m/m. This is worse than forecasted, but it can be explained by the cold weather this spring and the continued lockdown. In-store prices continued to fall in March and fell 2.4% y/y due to massive discounts, special offers and discounts. In the evening, you should also pay attention to the data from the United States. The dollar may receive strong support from the ADP statistics, which should show an increase in employment by 380 thousand. And this is a very good result, indicating a confident recovery of the labor market in the United States. If the forecasts are confirmed, the dollar will continue to rise to the area of local highs near 1.3660. EUR/USD. 31.03 | Euro recovers after falling to 1.1700 Yesterday, the euro slipped even more, falling to the level of 1.1700. The fall was again driven by a jump in Treasury yields amid successful US vaccinations and a faster economic recovery. Back in early January, rates on 10-year bonds were 0.91%, and in March the figure reached 1.77%. The widening yield spread between US and German securities is also an additional negative factor for the European currency. However, on Wednesday, the EUR/USD pair is showing some correction: the asset quotes rose to the 1.1735 area. The entire spectrum of risky assets was supported by the publication of China PMI indices. The index of business activity in the service sector in March rose to 56, points against the forecast of growth to 51.9. In the industrial sector, the indicator was 51.9 against expectations of 51.3 points. Additional support for the pair was provided by the data on employment in Germany. The indicator came out better than the forecast, showing a decrease in the number of unemployed by 8 thousand. Tonight, attention should be paid to the speech of US President Joe Biden, during which the head of the White House will present a new program of economic assistance in the amount of $1.5-3 trillion.

EUR/USD. March 30, 2021 | Euro continues to decline to multi-month lows The main currency pair continues to update its lows, reaching 1.1725. Sales of the European currency continue due to the deterioration of the situation with the coronavirus in the euro area, as well as against the background of the strengthening of the dollar, which is in demand due to the growing interest in «safe» assets. On Tuesday, the economic calendar is not of particular interest, but the rest of the week will be quite informative. Today it is worth paying attention only to the important release on the consumer confidence index from the Conference Board for March. Analysts do not exclude an increase in the indicator from 91.3 to 97.0 points, which is very positive for the US dollar. Tomorrow, President Biden will unveil his $3 trillion infrastructure project, and a key US non-farm employment report will be released on Good Friday (although markets in many countries, including the US, will be closed). Investors are preparing for the strongest payrolls in the last 5 months. However, there are risks: Biden's infrastructure project could be financed by raising taxes, and these are new taxes in the amount of $1 to $3 trillion, and the higher the real figure, the stronger the pressure on the stock market will be.

EUR/USD. March 29, 2021| Euro remains below 1.1800 The EUR/USD pair continues to move within a narrow range of 1.1750-1.1800. The main support for the US dollar last week was provided by economic statistics, which allowed the dollar index to reach a four-month high. Individual spending fell 1%, while the expected decline was only 0.7%. At the same time, revenues fell 7.1% (vs. 7.3% forecast), and the University of Michigan Consumer Sentiment Index was revised upward (from 83.6 to 84.9). Moreover, the number of initial applications for unemployment benefits reached the lowest level for the entire period of the pandemic (684 thousand applications). The IFO report on the index of the business climate in Germany helped to stop the fall in the euro: the indicator exceeded analysts' expectations, rising to 96.6 points. However, the euro is still under strong pressure from the difference in the epidemiological situation between the US and the eurozone. The United States plans to return to normal life in a few months, while the fight against coronavirus in Europe is far from successful. In Germany, they fear that the third wave of the pandemic will be the most destructive and they propose to return the curfew. Today the macroeconomic calendar is empty, the pair will continue to fluctuate weakly below the 1.1800 level.

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GBP/USD. March 26, 2021 | The sterling returned to the 1.38 level The British currency continues to win back losses in pairing with the dollar, rising almost closely to the level of 1.3800. The main support for the pound sterling was provided by economic reports from the UK. In particular, retail sales rose 2.1% in February after falling 8.2% a month earlier, in line with market participants' expectations. The indicator on an annualized basis was -3.7% against the forecast of -3.5%. The basic index of retail sales in monthly terms amounted to 2.4%, in annual terms – minus 1.1%, which turned out to be better than the experts' forecasts. An additional positive for the sterling was the comments of the chief economist of the Bank of England and member of the Monetary Policy Committee Andy Haldane, who said that the UK economy will show a very rapid recovery. However, the US dollar also feels quite stable. Yesterday's GDP and labor market data showed that America's economy is recovering and unemployment is gradually declining.

EUR/USD. March 25, 2021 | Euro fell to the level of 1.1800 The EUR/USD pair continues to be in the clutches of «bears»: the current quotation of the euro is 1.1800. The strengthening of the dollar is again helped by the rise in the yield of US bonds. In addition, the worsening epidemiological situation in the euro area continues to negatively impact the single currency. Today we should pay attention to the final data on US GDP for the fourth quarter. These statistics should confirm preliminary estimates that showed a slowdown in the rate of economic decline from -2.8% to -2.4%. Therefore, these statistics are unlikely to have any impact on the market. But the report on the number of applications for unemployment benefits, the total number of which should once again be reduced, can provide significant support to the dollar. In this case, we expect a further decline in the European currency below the level of 1.18. EUR/USD. March 24, 2021 | «Bears» are approaching the 1.1800 level During the trading session on Wednesday, the euro continues to decline. The current quote for the EUR/USD pair is 1.1825. The pressure on the European currency is exerted by the prospect of a worsening economic situation in the eurozone countries amid the development of the third wave of the coronavirus pandemic. Many countries in the region are resuming restrictive measures. Including Germany, the largest economy in Europe, where a new quarantine was introduced until April 18. France and Italy are also under severe restrictions that delay the recovery of the entire European region. The situation is aggravated by the problems with the use of the AstraZeneca vaccine, which is being phased out by an increasing number of EU countries. Additional pressure on the euro is exerted by the widespread strengthening of the dollar in the market. Greenback is growing after the speeches of D. Powell and D. Yellen in Congress, who said they expect a strong recovery in the US economy this year thanks to successful vaccinations. The head of the FRS also noted that he does not expect an unwanted acceleration of inflation after the adoption of the stimulus package, adding that the regulator has all the necessary tools to curb the excessive rise in price pressure. Against this background, the dollar index approached the maximum level in the last 4 months.

EUR/USD. March 23, 2021 | The euro continues to decline from the level of 1.19 The euro continues to be under pressure against the dollar, settling below the 1.1900 level. The current quote for the EUR/USD pair is 1.1875. Recently, the main driver of fluctuations in the US dollar has been the movement of the yield on US government bonds: when it grows, the dollar also begins to rally. An additional important factor supporting the dollar is the optimism about a quick recovery of the American economy, including taking into account additional stimulus. At the same time, the eurozone is mired in a crisis, which puts significant pressure on the euro rate. The fact is that Europe is lagging behind the United States in terms of vaccination of the population, and an increasing number of countries are again tightening or extending quarantine restrictions. As a result, the economic indicators of the eurozone are showing a decline, and the ECB is forced to remain cautious in all its steps and actions. This week is scheduled to publish data on business activity in the euro area and the result of the IFO survey in Germany. Analysts predict that new releases could disappoint the markets once again. Today the economic calendar is almost empty, so the pair will continue to decline slightly in anticipation of new drivers.

GBP/USD. March 22, 2021 | Sterling moderately grows at the beginning of the week At the end of last trading week, the pound sterling fell to the 1.3800 area. On Monday, the pair is trying to win back losses, rising to 1.3850. The latest macroeconomic data from the UK turned out to be rather weak, so the pound is unlikely to strengthen significantly. The pound made some attempts to grow after the announcement of the results of the meeting of the Bank of England last Thursday. The regulator decided to keep the base interest rate at 0.1%, and the volume of redemption of assets from the market – at 895 billion pounds. The central bank also noted that if the inflation forecast deteriorates, the monetary policy committee is ready to take any necessary additional actions. However, no tightening of monetary policy is expected until there is confidence in achieving a robust 2% inflation target. Today the macroeconomic calendar is empty. In the coming days, data on business activity, employment, inflation and retail sales in the UK will be released. Experts expect the numbers to strengthen as mass vaccinations boost confidence and economic activity. EUR/USD. March 22, 2021 | The euro is trying to close above 1.19 The main currency pair is trading slightly above the 1.1900 level on Monday. The euro is trying to regain the losses of the last week, but this is not happening very confidently. The fact is that the US dollar remains quite stable after the comments and decisions of the FRS following the March meeting. Moreover, the yield on US government bonds continues to rise, which provides fundamental support to the greenback. The rise in bond yields came after the announcement that the Fed had not extended the benefits for second-tier banks introduced last year due to the coronavirus pandemic. The mechanism was introduced to stimulate bank lending; now, according to the Fed, there is no obvious need for it. The euro, in turn, is under pressure due to the suspension of Covid vaccinations in Europe with the drug company AstraZeneca. Investors fear that against the background of this, the terms of lockdowns in some European countries will be extended, and this is a certain negative for the European currency. Today the macroeconomic calendar is completely empty. Attention can only be attracted by the speech of the head of the US Federal Reserve, Jerome Powell. However, market participants are unlikely to learn something new, since the head of the regulator has repeatedly commented on the prospects for the Fed's monetary policy.

EUR/USD. March 19, 2021 | The dollar is back under the 1.1900 level On Friday, the dollar returned to the 1.19 level, having recouped most of the losses incurred following the FOMC meeting. The American regulator said that it does not intend to raise interest rates until 2023, however, the recovery of the dollar and the growth of government bond yields indicate that market participants are still guided by an optimistic economic scenario. The dollar was also supported by an increase in the manufacturing activity index (according to the Philadelphia Fed report), which also underpins the improved economic forecasts of the central bank. The index rose from 23.3 to 51.8 points, reaching a maximum of the last 48 years. At the same time, the euro is under pressure from the worsening situation with the coronavirus in Europe. Many countries are returning to lockdowns, others are in no hurry to remove restrictions. The head of the European Commission, Ursula von der Leyen, believes that all this is due to a decrease in the rate of vaccination against the background of refusal of the AstraZeneca vaccine due to possible severe side effects. The economic calendar is empty for today. The current quote for the EUR/USD pair is 1.1880. The RSI indicator weakly declines from the neutral zone, which signals further moderate strengthening of the dollar.

ForexMart switches its trading servers to summer time (GMT+3) Dear traders, Please note that due to the transition to daylight saving time, the time zone on the MetaTrader 4 platform will be changed on March 28, 2021. The server time of the ForexMart trading terminal will be changed from GMT+2 to GMT+3. Remember that this will not affect the operation of the market and the trading process. However, we strongly recommend changing the time zone settings in the indicators and Expert Advisors to match the time settings of the trade server. We wish you a successful trade! Respectfully, ForexMart team

EUR/USD. March 18, 2021 | The results of the Fed meeting put pressure on the dollar On Thursday morning, the euro continues to rise to the 1.20 area. The current quote for the EUR/USD pair is 1.1986. Yesterday there was a meeting of the US Federal Reserve System, as a result of which the American currency significantly weakened, having lost control over the level of 1.19. As market participants expected, the regulator kept the base rate at the level of 0-0.25% per annum. The Fed also made it clear that it does not intend to raise interest rates throughout 2023, despite the rapid recovery of the American economy. The central bank also improved its forecast for US GDP: now the regulator predicts economic growth by 6.5% in 2021, not 4.2%. Moreover, inflation is expected to exceed the Fed's 2% target this year at 2.4%. Today you should pay attention to the macro statistics on the US labor market. Analysts expect that the number of initial claims for unemployment benefits fell by 12 thousand from the previous week, to 700 thousand. If the forecast is confirmed, the US dollar will have an incentive to recover from yesterday's drawdown.

EUR/USD. March 17, 2021 | Dollar at 1.19 in anticipation of the results of the Fed meeting On Wednesday, EUR/USD continues to trade at 1.1900 in anticipation of the results of the US Federal Reserve meeting, which will be announced tonight. Yesterday's economic statistics put pressure on the dollar. Retail sales in February decreased by 3.0% m/m against the previous growth by 7.6% m/m (revised value). The forecast assumed a decline of only 0.5%. Analysts note that sales have deteriorated amid cold weather in the States this year. The volume of industrial production in the US in February fell by 2.2% m/m against expectations of growth by 0.4% m/m and the previous rise by 1.1% m/m. This was also the result of an abnormally cold and snowy winter. Today all traders' attention is focused on the decision of the US Federal Reserve on the rate and further course of monetary policy. The rate is likely to remain at zero, and the main interest is the press conference of the head of the FRS. The tone of J. Powell's comments may become a little more aggressive than before, however, one should not expect signals of a softening of the policy. The economic calendar for today is practically empty, so trading will be held in a calm manner near the level of 1.19, until the announcement of the results of the Federal Reserve meeting. GBP/USD. March 17, 2021 | Market participants awaiting the results of the US Federal Reserve meeting The focus of traders this week is the meetings of the US and UK central banks. The US Federal Reserve will announce the results of its meeting tonight: analysts predict that the regulator will leave the current parameters of monetary policy unchanged, while raising the assessment of economic growth, as well as, possibly, inflation. Based on the results of the December meeting, the leaders of the FRS predicted that the target inflation rate of 2% would be achieved no earlier than 2023. However, now the regulator may revise its forecasts towards accelerating inflation, given the recent macroeconomic data. And this will undoubtedly be a positive factor for the US dollar. As for the Bank of England, which will meet on Thursday, economists believe that the Central Bank will continue to take a wait-and-see attitude and will keep its policy unchanged. Despite the fact that the yield on UK government bonds rose sharply amid expectations of a faster economic recovery and higher inflation. Moreover, yesterday the head of the Bank of England Andrew Bailey said that the bank will continue to buy bonds this year, despite the fact that «inflation will remain below the target of 2%.» The current quote for the GBP/USD pair is 1.3900. The RSI indicator is growing weakly from the neutral zone, which signals further moderate strengthening of the pound sterling during the day, until the announcement of the results of the US Federal Reserve meeting.

Brent. March 16, 2021 | Oil continues to decline Brent crude oil continues to decline during the trading session on Tuesday, trading just below $68 a barrel. Previously, quotes were growing steadily amid hopes for a faster recovery in global economic growth due to the gradual lifting of quarantine restrictions in many regions of the world. However, investors are still worried about the emergence of new strains of coronavirus in Europe, and Italy has even announced the restoration of a partial lockdown in the country. Despite the local correction, «black gold» retains the potential for further growth. On the side of buyers is strong statistics from China – the largest consumer of oil. Industrial production jumped 35.1% in January-February compared to the same period last year, according to Monday's data. Analysts had expected a more modest gain of 30.5%. Market participants even assume that oil prices will be able to reach the level of $80 per barrel in the second quarter, after many quarantine measures are lifted and economic activity is restored. Experts predict that global oil demand will rebound by about 6 million barrels a day from last year, after falling by 8.7 million barrels a day in 2020. For the period 2021-2023 demand is projected to grow at more than 9 million barrels per day – the fastest pace since the 1970s.

GBP/USD. March 15, 2021 | The pair fluctuates weakly near the 1.3900 level «Bears» for the GBP/USD pair failed to gain a foothold below 1.3860 and the pound began to gradually recover at the beginning of a new trading week. The current quotation of the asset is 1.3915. Prior to that, the pair's decline was driven by disappointing UK GDP data. The indicator decreased by 9.2% (y/y) and 2.9% (m/m). Moreover, manufacturing output fell 2.3% in January. The economic calendar for today is absolutely empty, so the trading day promises to be calm. It is also worth noting that investors took a neutral position, expecting a reaction to the injection of $ 1.9 trillion in fiscal stimulus into the US economy and the outcome of the two-day Fed meeting. In light of a serious rise in inflationary expectations (the University of Michigan believes that inflation may rise to 3.1%), the American regulator may nevertheless tighten its monetary policy.

EUR/USD. March 12, 2021 | Euro sank after ECB meeting The euro slipped somewhat after the ECB's decision to keep the rate at zero. The current quote for the EUR/USD pair is 1.1933. The European regulator managed to surprise the markets by announcing plans to significantly increase the rate of asset repurchases in the next quarter. The reason for this decision was the recent rise in government bond yields and fears about a possible jump in inflation in the coming months. The ECB also raised its GDP and inflation forecasts for 2020 and 2021. This year, the economy is expected to grow by 4% and inflation by 1.5%. Experts note that until the eurozone economy shows a stable recovery, the euro will continue to lag behind its main foreign exchange competitors. The US Federal Reserve will hold its meeting next week, during which updated economic forecasts will also be presented. Yesterday, the United States published good data on applications for unemployment benefits (712 thousand against the forecast of 725 thousand). Today you should pay attention to statistics on producer prices and consumer sentiment from the University of Michigan. We are also monitoring the further fate of the US fiscal assistance package: it is expected that today President Joe Biden will finally sign the corresponding bill.

EUR/USD. March 11, 2021 | The dollar is under pressure from the inflation report On Thursday, the EUR/USD pair began to recover after falling the day before to the level of 1.1830. The current quote for the pair is 1.1965. The euro is growing for the third session in a row amid growing interest in risky assets. An additional factor strengthening the pair was yesterday's statistics on inflation in the US. The report showed quite strong growth on an annualized basis (+1.7%), but if we consider the indicator of core inflation excluding food and energy prices, the growth remains very small. Such inflationary pressure will not be able to influence the Fed's rate decision, so Treasury yields began to decline, which led to a weakening of the dollar. An additional negative factor for the American currency was also the report on the state of the budget, which showed an increase in the budget deficit to $ 311 billion from the previous value of $ 163 billion. And, of course, the completion of the discussion of the $ 1.9 trillion fiscal stimulus program is also exerting strong pressure on the dollar exchange rate today. The day before, the bill was approved in Congress and sent for signature to the President, who is expected to sign the law on Friday, March 12. Today the ECB will meet to decide on interest rates. If the regulator calls for the continuation of the stimulus program, the EUR/USD buyers will have a stronger chance of testing 1.20.

EUR/USD. March 10, 2021 | Consolidation at 1.19 On Wednesday, EUR/USD consolidates at 1.1900 in anticipation of US February inflation data in the evening. The consensus forecast assumes an increase of 0.4 percentage points. up to 1.7%. Such expectations are quite logical, since the rise in prices for industrial goods and energy resources contributed to an increase in the consumer price index. Fed Chairman Jerome Powell in his recent speeches also pointed to the rise in inflation in the next few months. If analysts' forecasts come true, the dollar may strengthen somewhat, but high volatility should not be expected, as investors will refrain from opening positions before tomorrow's ECB meeting. GBP/USD. March 10, 2021 | The pair is in the 1.39 area in anticipation of US inflation data On Wednesday, the GBP/USD pair is trading with no definite direction in the 1.3900 area. Over the past two weeks, the pound has shown a downward correction, but investors continue to believe in the «bullish» outlook for the asset with a return to the level of 1.40. This optimism was fueled by news that the UK authorities have decided to ease quarantine measures. Since Monday, for example, schools have started operating in the country. Additional support for the sterling was provided by yesterday's report on retail sales, which showed an indicator growth of 9.5% against expectations of an increase of 7.0%. Today you should pay attention to the report on consumer inflation for February in the United States. Analysts expect inflation to rise by 0.4%. Such values are clearly not enough for the FRS to somehow change the monetary policy, but they are quite enough to put pressure on the US dollar.

Modernization of the company's equipment Dear ForexMart clients and partners, We inform you that on March 6-7, the company upgraded the equipment – we connected a new server and updated the existing web services, which could lead to some malfunctions. You may have encountered difficulties when logging into the Metatrader trading terminal, as well as when working with web services. Reinstalling the application in most cases solves this problem, otherwise contact our Support team. We apologize for the temporary inconvenience. Our new server with increased capacity reserve will allow you to process orders even faster and avoid technical problems in the future. We wish you successful trading, ForexMart team