$EURUSD Forecast: Euro could extend rally after 1.0700 is confirmed as support by eren_fxstreet forex trading
President Christine Lagarde said earlier in the day that the policy rate was likely to be positive at the end of the third quarter and provided a boost to the shared currency. This comment suggests that the ECB could opt for a 50 basis points rate hike in September after going for a 25 bps rate hike in July. In fact, Bloomberg claimed in a recently published report that some ECB policymakers were annoyed that ECB President Lagarde planning to rule out double-does rate increases.
Meanwhile, the souring market mood helps the dollar limit its losses on Tuesday and caps EUR/USD's upside for the time being. The Euro Stoxx 600 Index is down nearly 1% on the day and USBeijing's decision to extend the work-from-home order and escalating US-China tensions with regard to Taiwan and trade relations seem to be causing investors to stay away from risk-sensitive assets.
On the downside, 1.0700 aligns as first support. If buyers manage to defend this level, the pair could regain its traction and test 1.0740 before targeting 1.0780 and 1.0800 . Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
EUR/USD: Bears face paramount hurdle at paritySellers remain well in control of the sentiment around the European currency and prompt EUR/USD to struggle around the parity level on Tuesday. EUR/US
Baca lebih lajut »
EUR/USD Forecast: Euro could extend downward correction if 1.0520 support failsEUR/USD has started to edge lower early Friday after having tested 1.0600 on Thursday. The risk-positive market environment helps the shared currency
Baca lebih lajut »
EUR/USD Pushing Higher as US Traders Buy Overnight PullbackThe Euro continues to gain against the Dollar as EUR/USD recovers from a dip below 1.07. The Euro is benefitting from ECB’s recent talking points as policymakers look set to move away from negative interest rates.
Baca lebih lajut »
Euro Forecast: Positives Few and Far Between – Setups for EUR/GBP, EUR/JPY, EUR/USDNone of the major EUR-crosses suggest that the lows are in just yet. EUR/JPY broke their multi-month uptrend, EUR/GBP experienced a failed bullish breakout, and EUR/USD touched parity.
Baca lebih lajut »
Euro Price Forecast: Is the EUR/USD Bear Market Rally Coming to an End?The euro has enjoyed some much needed respite since mid-May after extended long positioning on the U.S. dollar faded. Get your market update from WVenketas here:
Baca lebih lajut »