EUR/USD today: the euro has received a support
From the start of the day, the EUR/USD pair has been trading with a strengthening on the growth of optimism and correction after yesterday’s decline. In the European session, the single currency received support from data on reducing the Italian budget deficit. As a result, political risks in the eurozone were reduced and gave a positive influence on the stock exchanges.
Events for today:
- 15:30 – a block of news about the USA: shipments of nondefense capital goods (excluding aircraft) (m/m), core durable goods orders (m/m) (oct), durable goods orders (m/m) (Oct) and initial jobless claims.
- 17:00 – report on the real estate market in the United States.
- 17:30 – data on the US oil inventories.
The day today is full of statistics on the US, which will set the tone for trading in the afternoon. At the same time, it is worth noting the possibility of increasing volatility in reducing positions before a long weekend in the United States because of Thanksgiving Day.
The pair EUR/USD maintains an upward trend despite the collapse on Tuesday. The main support is located at the levels: 1.1400 and 1.1380, from which it is possible to resume the growth. A factor to the trend reversal may be a general increase in pessimism in the market and a collapse of stock markets, which will support the US dollar.
Read also: “Fundamental analysis: the interest rate and its impact on the exchange rate”
Hanzenko Anton
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