EUR/USD today: the euro has resumed its growth

After yesterday’s rapid growth of the euro against the US dollar on the evidence that China is ready to take retaliatory measures, all expectations for the acceleration of the decline in the EUR/USD pair have been dispelled. The reason for this was the rapid growth of the euro and the Swiss franc, which received support as safe haven currencies against the background of aggravated trade confrontation between the United States and China.

Events for today:

• At 15:30 – inflation data in the United States will be released: core consumer price index (CPI) (m/m) (Apr), core consumer price index (CPI) (y/y) (Apr) and consumer price index (CPI) (m/m) (apr).

This inflation report in the United States remains very significant, especially in light of recent comments by the US Federal Reserve. Of the fundamental factors, it is worth highlighting the difficult situation with the trade relations of the United States and China.

The EUR/USD pair has fixed above the level of 1.1220, having canceled expectations on the pivot, thereby resuming restrained upward dynamic. Risks of exacerbation of trade relations remain, which may cause an increase in volatility in the US dollar. Support levels: 1.1210 and 1.1180, resistances: 1.1250 and 1.1270.

Read also: “Emerging markets and their prospects: Russian ruble (RUB)”

Hanzenko Anton

---

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Skills each investor must develop
2. What is interesting about the US Fed meeting in April  and how it can affect the world banks policy?
3. Stock Indices: Storming Historic Highs

Current Investment ideas:

1. CAT shares give SUPER-opportunity to earn in April!
2. Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
3. Several reasons to buy Walmart shares. Use the chance to earn!