The USD is strengthening actively. Overview for 09.03.2021

EURUSD is still falling and moving close to the lowest level since November 23rd. 

The major currency pair is retreating on Tuesday morning under pressure from the “greenback”. The current quote for the instrument is 1.1854.

The US 10-year bond yield continues improving, thus providing excellent support to the national currency. At the same time, the “greenback” was pretty much supported by the February reports on the labor market. The Non-Farm Employment Change was 49K, which is much better than expected, while the Unemployment Rate dropped from 6.3% to 6.2%. 

Another positive news from Washington is that the Senate finally approved the $1.9 trillion stimulus package, which means that the country’s economy will receive the money as planned.

The European currency couldn’t reach stability even after the Sentix Investor Confidence, which rose to 5.0 points in March after being -0.2 points in February.  

Later today, the Euro Area will report on its GDP in the fourth quarter of 2020, which is expected to show 0.6% q/q and that’s rather neutral. A weaker reading will count against the Euro.