EUR/USD today: the pair adjusted after decline

With the opening of trading in Europe, the EUR/USD pair demonstrates restrained attempts to grow on the correction after yesterday’s decline and the negative start of European stock indices. The reason for the decline in optimism was the skepticism regarding the progress in negotiations on the US – China trade relations.

Events for today:

• 16:00 – S&P/CS Composite-20 composite housing price index seasonally adjusted (y/y) (June) in the United States will be published.
• 17:00 – CB Consumer Confidence Index (Aug) in the USA will be released.
• 23:30 – API weekly crude oil inventories will be released  in the United States.

The EUR/USD pair from the start of the day has been trading with strengthening on correction against Monday, limiting itself to market sentiment and a trading range from 1.1120-30 to 1.1090-80.

In the conditions of further growth of optimism, we should expect a decrease in the pair to marks: 1.1080 and 1.1060.

But the aggravation of trade risks and the growth of pessimism may support the euro and cause the pair to rise to the marks: 1.1120 and 1.1140.

Read also: “The trade war. Relations between Japan and South Korea“

Hanzenko Anton

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

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