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Main » 2019 » July » 02

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On Monday, July 1, the bidding for the euro / dollar closed lower. Meeting US President Donald Trump and President of China Xi Tsinzenpina reduce tensions between the two countries, but it has received support from the US dollar rather than the euro. The G20 summit has lowered market expectations for the decline in the Fed's interest rates this year.

 

 

 

Views: 38 | Added by: mik | Date: 02.07.2019 | Comments (0)

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Tuesday's trading session was opened by the next meeting of the Reserve Bank of Australia, in which the Australian regulator, as expected, decided to reduce the key interest rate by 25 basis points, from 1.25% to 1%. However, the logical weakening of the national currency against the background of this decision was not followed. Pair AUDUSD after a brief correction to the level of 0.6950 quite quickly recoup losses and went back to the 0.70 resistance.

 

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Views: 36 | Added by: mik | Date: 02.07.2019 | Comments (0)

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The euro dollar forex trading forecast for EURUSD today 07/02/2019
 

On the one hand, the forex traders in the EUR / USD pair, you can expect a decrease in the euro quotations against the background of sales of gold, as the euro has a strong correlation with the precious metal. Gold is very much increased in price in June on concerns about a trade war the United States and China, and after a positive G-20 summit, where Washington and Beijing announced the armistice, investors started to shut down the "Long" in gold. Gold this week may demonstrate the correction to $ 1370 / oz, which is negative for the euro. On the other hand, weak data on business activity in the US manufacturing in June may again cause the US dollar sell-off. ISM Manufacturing PMI value was 51.7% versus 60.2% a year earlier. For June is traditionally characterized by a high value of PMI - in the range of 54-58%. Now, we got a very weak report. Last time such weak figures observed in June 2012. Meaning ISM Manufacturing Prices 47.9% - index fell below the 50% level for the first time in four months. This factor indicates a decline in inflation, which is another argument for the Fed to lower interest rates on 31 July.


EUR / USD recommendation: flat 1.1260 -1.1340

 

 

Views: 32 | Added by: mik | Date: 02.07.2019 | Comments (0)

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