The major currency pair remains weak on Wednesday; probably, it may update May’s lows.
EURUSD continues falling on Wednesday; it is getting closer and closer towards May’s lows. The current quote for the instrument is 1.1155.
Right now, the USD is getting significant support from trade wars. The fact that Asian economies, China in the first place, are starting to experience worse trade and business conditions in the region makes the American currency quite strong. On top of that, the US 10Y increased yesterday, thus providing additional support to the “greenback”.
There will be no statistics from Europe today. The USA, it its turn, will publish the weekly report on the Crude Oil Inventories. However, investors will closely watch the FOMC Meeting Minutes later in the evening.
So, the deal is this. Since the White House managed to make the Federal Reserve take a break in tightening its monetary policy earlier, now there is a possibility of reducing the rate. Indeed, such a possibility exists and market players will try to find any hints at that. It’s a bad signal for the USD.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.