Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Broadly weaker greenback hovers at 32-month minimum vs. counterparts
On Friday, the evergreen buck kept hovering at 32-month minimums versus other key currencies because the European Central Bank's latest policy statement ensured broad support to the common currency. At the same time dismal US data worsened optimism over the strength of the American economy.
The currency pair EUR/USD soared 0.50% being worth 1.2083, which is the highest outcome since January 2015.
The single currency tacked on after the ECB left interest rates intact exactly as expected and indicated that information on the tapering of the key bank's asset-purchase program would be unveiled in October.
ECB Governor Mario Draghi added that the outlook for surge and inflation in the euro zone was still intact.
Meanwhile, the evergreen buck was pressured after the US Labor Department posted on Thursday that initial jobless claims tacked on more than anticipated hitting 298,000 the previous week.
USD/JPY sagged 0.65% reaching an 11-month minimum of 107.74.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.