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.