Today is a pretty big day in the Financial world. The US FOMC ruling on rates is coming out at noon. While the rate is expected to remain at .25%, it is anticipated they will remove the “Patience” wording opening the doors to a midyear hike, the first in a decade.
The US economy is resuming it’s position as an economic powerhouse. The dollar value has grown significantly in the past year and with unemployment at 5.5%ish.
While in Europe, violent protestors clash with the opening of the new $1.5 billion central bank building. They’re blaming the bank for destroying millions of lives and policing bailouts that would save Greece and Portugal.
What we’re looking at is a great bearish opportunity for the EUR/USD and a great year to plan your European vacation. While it’s currently at 1.05 per US dollar we can expect a near penny drop and reaching party with the US dollar in a short while.