EUR / USD today: risks continue to put pressure on the US dollar
The EUR / USD pair has updated the maximum of the current week at the level of 1.1740 in the first half of the day, which was caused by renewed pessimism over the American dollar and persistent tension after the Helsinki summit. On the other hand, an ambiguous data on employment in the UK slowed the growth of the euro through the cross and caused the formation of a correction of EUR / USD.
Events for today:
- 16:50 – data on the US: the volume of industrial production in the US (y / y) and the volume of industrial production in the US (m / m).
- 17:00 – the speech of the US Federal Reserve Chairman Mr. Powell will be held.
- 23:00 – TIC Net long-term transactions in USA.
- 23:30 – Weekly stocks of crude oil in the United States will be released according to the American Petroleum Institute (API).
In conditions of preserving political risks, the dynamics of the US dollar will remain limited. The mood in the market will be able to change the speech of US Federal Reserve Chairman Powell, who will speak in favor of two more Fed rate hikes this year.
Technically, the pair EUR / USD remains in an uptrend and after correction it is worth considering transactions for buy from support levels: 1.1720 and 1.1700. This will open the way to resistance levels: 1.1750-70 and 1.1800. An additional factor of uncertainty is the forthcoming speech by the head of the Fed.
Read also: “Indicators of the social sector: NFP and applications for unemployment benefits”
Hanzenko Anton
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