Good data regarding retail sales (growth of 0,3% against 0,2%) and decrease of applications for unemployment benefits (315000 against 333000) had a positive impact on USD, as it rapidly increased against EUR. Another massive concern which had a negative impact on EUR was the speech by Mario Draghi as he announced that EUR is overvalued and that ECB is preparing new additional monetary policy stimulus measures. Investors expected to hear it from Mario Draghi last Thursday, but he did not do that. But taking into the consideration weak Euro Zone statistics and almost vertical EUR growth ECB president made a verbal impact on Euro currency.
Taking into the consideration on-going situation we expect EURUSD to continue further decrease if University of Michigan Consumer Sentiment Index for March is at least not worse than the prediction (81,9 against 81,2)
