EUR/USD today: the euro slowed down the decline on risks - Ester Holdings

EUR/USD today: the euro slowed down the decline on risks

The EUR/USD pair confirmed the downward trend associated with the growth of optimism on the trade agreement after updating the low at the level of 1.1000-1.0990. At the same time, this pair remains in significant oversold, additionally limited by uncertainty.

Events for today:

  • 15:30 – an inflation data in the United States will be released: core consumer price index (CPI) (m/m) (oct), core consumer price index (CPI) (y/y) (oct) and consumer price index (CPI) (m/m) (oct).
  • 18:00 – Fed Chairman Mr. Powell will speak
  • 21:00 – a report on the implementation of the US federal budget (October) will be published.

The day today is full of significant statistics, an inflation data in the USA and a speech by the US Federal Reserve Chairman Powell are especially noteworthy. But the US – China trade talks remain the main long-term factor of influence in market.

The EUR/USD pair  slowed down the rate of decline near support 1.1000-1.0980 on trade uncertainty, the preservation of which, in turn, may put pressure on the American dollar and a restrained correction of this pair. Resistance are the levels: 1.1030 and 1.1050.


Read also: “What does the US Fed Chairman Powell statement mean for the US dollar”

Hanzenko Anton


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

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