The EUR/USD started the week with some stability with the absence of major movements on Monday, where major European markets were still out on Easter Monday.
The focus this week remains on interest rate bets with a number of central banks announcing their rate decisions, and most importantly the Federal Reserve. The expectations for the Feds to remain muted on the case for further monetary tightening will bolster the gains for the euro and likely remain bullish versus the dollar shall the sentiment remain upbeat and not jittery over growth prospects.
Industrial orders from the euro area are expected with a gain and confidence might have remained resilient despite the expected slight easing and all supporting the case for further ECB monetary tightening.
On Tuesday, European markets will return to the market from a long Easter weekend and the movement is expected to be strong with the return of trading volumes to normal, and especially after last week’s strong gains.
Europe is not scheduled to release new fundamentals on Tuesday as the focus shifts to the US consumer confidence for April at 14:00 GMT that is expected to show improvement to 64.5 compare with the previous 63.4.
Originally posted here
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