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The pair overcame the level of support.
As of now, the dollar rally has been broken and the winning streak paused after reaching a one-year high. Data released yesterday in the US on the housing market was worse than expected and helped the pair overcome the level of 1.3115 and entrenched under it.
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For now the biggest risk factor regarding Europe has been averted.
A couple of weeks ago we wrote about a somewhat neglected side of the trade war discussion: the relationship between the United States and Europe. In a recent interview US President Donald Trump went as far as to call the European Union “a foe” of the United States due to the trade deficit with the bloc.
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The pair will be volatile today.
Today we would take a look at the EUR/USD currency pair. The pair continues to oscillate without certainty in a narrow corridor between 1.1726 and 1.1630.
Today the euro will likely be under the influence of economic reports from Germany, the EU’s strongest economy. The key reports to look forward to with high importance are the yearly and monthly CPI, as well as unemployment reports: these are the two most important factors to measure inflation in Germany, and thus have an impact on inflation throughout the eurozone as a whole.
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The pair is still in a corridor.
Our pair has been in a corridor for several weeks already. Volatility in the pair is limited by the current boundaries of the corridor.
The morning data on building permits exceeded the forecasted figures and amounted to 6.4% instead of 1.1% in June.
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Despite many negative factors, we can expect oil prices to be restored at least to the level of $70 in the near future. The deals to BUY seem the most effective now.
The rates continue within the upward trend, despite the presence of many factors that have a negative pressure on the value of oil.
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The pair overcome the resistance level.
At the moment the US dollar continues to strengthen against the basket of major currencies. For the third day in a row the dollar index shows growth and at the time of writing the article is at the mark of 94.72.
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The BoE is preparing for Brexit, but what about everyone else?
If the current economic climate in the United Kingdom has to be characterized in one word, that would likely be “uncertain.” The British government still hasn’t announced any specific measures they would like to take in the negotiations with the European Union, leaving everyone else guessing what would happen when the March deadline approaches.
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A strong sell is recommended for this pair today.
Today we would take a look at the EUR/USD currency pair. The pair has been declining since the beginning of August and continues to move downward even today.
As previously established, the euro does not have many incentives for growth.
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The pair has gone up.
Our pair continues to be in a price corridor. At the moment we are seeing a powerful upward impulse on the last candle.
Today at the beginning of trading session the Reserve Bank of Australia's decision on the interest rate was published.
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The consolidation phase for the NZD/USD is likely to continue. However, in the near future we can still expect further decreases in the rates to the minimum 0.668 USD.
Commodity currencies continue to be under pressure due to rising tensions in international trade, which negatively affect the rates of the NZD/USD.
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