The EUR/USD pair might rise in the medium term, based on the optimistic European economy data. The EU economy as a whole is enjoying a period of positive momentum as growth spreads across all member states. GDP grew 2.5% last year, with economies of Eastern European countries such as Romania, Poland, and Slovakia doing particularly well. For this year, the economy will also beat expectations by growing 2.1% both in the euro area and the 28 member states.
The main economic data of this week:
ECB rate decision (0.00% unchanged expectation); (0.00% previous)
France GDP QoQ (+0.4% expectation); ( +0.7% previous)
YoY (+2.3% expectation); ( +2.5% previous)
Germany Unemployment Change (-15k expectation);( -19k previous)
Unemployment Rate (+5.3% expectation); (+5.3% previous)
US GDP QoQ (+2.0% expectation); (+2.3% previous)