EUR/USD today: the euro remains under the pressure from political risks - Ester Holdings

EUR/USD today: the euro remains under the pressure from political risks

After the collapse of the US dollar in trading on Thursday, which were caused by a number of factors: weak statistics on the US, declining government bonds and the possibility of toughening the trade war, the EUR/USD pair updated a high of 1.1180. Today, a maximum of 1.1200 has already been updated. Saving the downward trend in the US dollar is likely to continue pushing the pair to new highs. But, due to political risks around the European Parliament elections, the pair’s upward trend will be limited.

Events for today:

  • 15:30 – the US data will be released: the volume of supplies of civilian means of production (excluding aircraft) (m/m), core durable goods orders (m/m) (Apr) and core durable goods orders (m/m) (Apr).

The main driver of the market continues to be negative sentiment. On the other hand, the positive dynamics of stock indices in Europe and the expectation of a correction before the weekend can support the American dollar.

The EUR/USD pair is being traded with a moderate strengthening, limited to resistance levels: 1.1200-20. In the face of rising the US government bonds yields and maintaining optimism in the stock markets, the pair is expected to adjust to support levels: 1.1160 and 1.1140. The main driver of the market remains the risks of trade confrontation.


Hanzenko Anton


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