The Euro traded with an increasing measure against the United States dollar on Friday, gaining its highest weekly increase against the US dollar for more than two and half years now because of the statement of the US Feds to gradually increase interest rate slower than expected.

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Against the US dollar the Euro traded high, increasing 1.52 percent to $1.0820 late on Friday. Throughout the trading week, the Euro gained its highest weekly strength against the US Dollar since the month of October 2011 – rising up to about 3 percent within the week.

The sudden decline in the US dollar within the past week occurred because of the decline in the pace of interest rate increase, hence traders were reluctant to bet as much for the dollar, since they were not sure the Feds will hike rates in June as expected, due to the report received by Wednesday that week from the US Federal Reserve.

United States dollar index that calculated its strength against a group of six main currencies, reduced at the end of the week to 2.53 percent, which was its biggest decline for about three and a half years now.

However, investors still think that the US dollar drop is just for a while and it is a much needed relaxation for the greenback since it has been upbeat for about half a year now.

The Euro has a total reduction rate of 10 percent when compared to the US dollar throughout this 2015. This effect is expected to progress because the European Central Bank’s continuing quantitative easing program worth trillions that started at the beginning ofMarch.

At this point the new week March 23 to March 27, will be brought into focus, identifying the important events in the different nations concerned that will affect the trading of the EUR/USD pair.

On Monday the 23rd of March, investors will be focused on the report of housing sales that the United States will publish on this day.

On Tuesday the 24th of March, investors will be concerned about consumer price inflation data that will be published by the United States. Eyes will also be on the individual reports that will be released by France and Germany, together with the Eurozone’s published on the activities of the private sector.

On Wednesday the 25th of March, forex investors will be eyeing the orders of durable goods report to be released by the United States, observing as well the Eurozone’s report detailing the business condition of Germany to be published by Info Institute.

On Thursday the 26th of March, there will be no significant information released by the United States on this day, but, everyone will be focusing on the Eurozone’s M3 money supply and private lending reports including the data of Germany’s consumer conditions expected from GFK Research.

Finally on Friday the 27th of March, no important data expected from th Eurozone, so all eyes will be on the United States at the end of the week, expecting the revised consumer index from the University of Michigan, along with the economic growth report for the final quarter of last year.