EUR/USD today: the US dollar resumes growth on the weakness of the pound
On Wednesday and at the opening of trading on Thursday, the EUR/USD pair was trading with moderate growth, which was caused by the growth of optimism in the market and the expectation of approval of the Brexit offer text. The mood in the market has changed dramatically, as it became clear that the Brexit contract would not pass and also increased political risks in the UK and a sale of the pound.
Events for today:
- 15:30 – a block of news on the USA: core retail sales index (m/m) (October), export price index (m/m) (October), import price index (m/m) (October), initial jobless claims, NY Empire State manufacturing index (November), Philadelphia Fed manufacturing index (November), Philadelphia Fed employment index (November), retail sales (m / m) (oct).
- 17:00 – business inventories (m/m) (September) in the United States.
- 18:00 – data on the US oil inventories.
- 18:30 – the speech of the Fed Chairman Mr. Powell.
The day today is very full of statistics on the United States, but the main focus of the market remains on the results of the Brexit talks and possible political risks in the UK.
The EUR/USD pair, amid a sell-off of the pound, updated a lows at the level of 1.1270-80 and moved to a low-key correction, which expanded general uptrend. In conditions of renewed optimism in the market, we can expect a correction to resistance levels: 1.1330 and 1.1350. However, any statements on Brexit may cause a rise in volatility in the market.
Read also: “Reserve Bank of New Zealand and prospects for its monetary policy”
Hanzenko Anton
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