EURUSD – Good and bad factors for the dollar

01.02.2022

Important events today:

15:00 UTC – USA: ISM manufacturing index.

Today, a mixed background is being formed. On the one hand, today we can expect quotes to rise against the background of the publication of negative macroeconomic statistics from the United States on the ISM industrial index. The rapid spread of the Omicron coronavirus is forcing US corporations to scale back their businesses until the epidemiological situation improves.

There is no lockdown in the United States, but there are fears that it could be introduced at any moment, and against this background, business is taking a wait-and-see attitude. On the other hand, investors can use the growth of euro quotes to build up “shorts”, since multidirectional monetary policy is expected in the Eurozone and the USA this year. The ECB will continue to print money under the QE program and wishes to keep the interest rate at 0%, while the US Federal Reserve ends stimulus next month and prepares for the first time since December 2018 to raise interest rates.

Decisions: flat 1.1180 -1.1280.