State of the Market: risks regarding the political situation in the euro area are falling

Trades on Thursday remain restrained for the European currency, after earlier the euro has receded from annual lows. The restoration of the euro was caused by the data that the Italian politicians are going to a meeting in the creation of the ruling parliament, which was perceived by the market as a signal to reduce political risks in the eurozone.

Against the background of a decrease in political risks in the euro area, the market switched to strained trade relations between the US and China, which remain tense, after the US intended to promote import tariffs from China at $ 50 billion, which increased pressure on the American.

The US dollar against the basket of major competitors on these news came from an established monthly uptrend and is traded below the psychology of 94.00, closing the day below which will indicate changes in the monthly trend. Significant support comes the marks: 93.80 and 93.60.

Also, read: “Fundamental analysis: Report on employment and its impact on the dynamics of the national currency”

Hanzenko Anton