EUR/USD today: the pair accelerates the decline

The EUR/USD pair accelerated the decline at the opening of European trading, remaining near significant support 1.1080-70. Despite a marked increase in optimism, this pair remains under the pressure from the risks of a tough Brexit.

Events for today:

• 15:00 – German consumer price index (CPI) will be published (m/m) (Aug).
• 15:30 – data on GDP from the USA will be released: GDP (q/q) (Q2), GDP deflator (q/q) (Q2), trade balance (July), initial jobless claims and retail inventories excluding automobiles (July).
• 17:00 – pending home sales in the real estate market (m/m) (July) in the United States will be released.

The day today is very saturated with statistics, especially data from the USA is worth noting. Because of what, we should expect an increase in volatility in the afternoon.

EUR/USD remains under the pressure from the American dollar, limited by the expectation of data on the US GDP. In the face of reduced risks and expectations of data for the USA, the formation of lateral dynamics is not excluded. But, while the EUR/USD pair is below 1.1100-1.1090, the downside potential remains.

Read also: “Escalation of the US – China trade war.”
 and what it means for the market?”

Hanzenko Anton

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

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