Euro resumes the upside and re-targets recent monthly tops around 1.0970 – by pabspiovano EURUSD SEO Currencies Majors
Stocks markets in Europe opens slightly offered on Tuesday.US traders returns to their desks following Monday’s holiday.Cautiousness is expected to pick up ahead of Powell’s testimonies.to ignore two consecutive daily declines and resume its recent upward trend on turnaround Tuesday.
The testimonies of the Federal Reserve's Chair, J. Powell, will be the significant events to watch later this week. for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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