Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Euro tumbles after six months of revenues
On Friday, the common currency went down having ended its sixth straight month of revenues because market participants got ready for a European Central Bank gathering next week exactly where policymakers are supposed to discuss the overall impact of the currency's strength.
With just 15 out of 79 experts in the latest Reuters survey actually expecting the ECB to reveal a timeline for its withdrawal in bond purchase initiatives, the market expects the euro’s strength will attract some comments from officials.
The ECB won‘t probably decide on trimming its asset purchases that are going to be phased out only slowly because the euro's rapid revenues versus the evergreen buck are worrying a surging number of policymakers. That’s what three sources already familiar with discussions informed Reuters.
The euro tumbled 0.25% being worth $1.1881. It had been growing for six consecutive months through August, hitting a 2-1/2 year maximum above $1.20 this week.
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.