Today, on February 25th, the US Dollar is down against other major currencies. In particular, the current losses of USD look as follows:
0,14% against the common European currency
0,22% against the Swiss Franc
0,10% vs the British Pound
Yesterday, the US currency lost a bit of its value against its Canadian and New Zealand Dollar. As for the US Dollar index, it is currently down by 0,12% since the opening and is trading within the 80,12-80,13 price range.
Why Does USD Decline?
The US Dollar is currently showing weakness against the Euro since the German GDP report matched the forecast. The quarterly gain reached 0,4%. The annual GDP increase remained at 1,3% during the reporting period, which favored the common currency and made it gain some value against the US Dollar.
Still, the American currency may gain some value today if the US consumer sentiment report turns out o be positive. At this point, experts are expecting a decline from 80.7 down to 80.0. Still, if the figures are better than expected, the US Dollar may gain some support against the Euro and other currencies.
Masterforex-V Academy on EURUSD Prospects
The experts of Europe's Best Forex Training Project since 2009 have analyzed the H1 chart of EURUSD. They report that the Euro is currently trying to offset yesterday's losses. However, the overall bias is still bearish since there are no signs of reversal.
If the price continues its recovery, we may see it breaking above 1,3772 and further up to 1,3782. If this is the case and the rally proves strong enough to consolidate above the mentioned area, we will probably see EURUSD hitting new local highs.
Alternatively, if the US Dollar gains support from today's economic figures coming from the USA, the Euro may well reverse and go down to 1,3685. Once the level of support is overcome, the price will probably decline all the way down to 1,3615.
