EUR/USD today: the euro slows the growth
Trades on Tuesday remain restrained negative, despite a modest resumption of growth on stock exchanges. The market preferred to take a wait-and-see position due to the lack of actual results of the US – China trade talks despite attempts to renew optimism.
Events for today:
- 15:30 – NY Empire State manufacturing activity index (October) will be released.
- 21:00 – report on the US federal budget will be published.
Given the persistence of trade uncertainty, market dynamics will be restrained, and emerging movements will be associated with technical correction or published data.
Technical the EUR/USD pair forms lateral dynamics from 1.1000-1.0990 to 1.1050-60, slowing down the upward trend by the formation of a flat on market uncertainties. In the conditions of trade uncertainty between the US and China, this flat can be regarded as a correction after growth, and attempts to reverse.
Read also: “What does the US Fed Chairman statement mean for the US dollar”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The results of the US-China trade talks
- Cloudy prospects for the oil market
- Risks of global economic slowdown are escalating
Current Investment ideas: