Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Evergreen buck is getting steady
On Friday, the major US currency became more stable because the yield on American Treasury bonds went up against the backdrop of an increased risk appetite.
The US dollar index versus the group of six leading currencies rose 0.2% the previous day, coming up with a four-day losing marathon.
The index managed to rebound, as the yield on Treasury bonds headed north to the highest value since late March.
The US currency was steady at 107.385 yen having soared more than 0.5% overnight. A leap above 107.490 yen would take it to its highest value since late February. The greenback has tacked on about 0.3% versus the Japanese yen this week.
Revenues rallied as the Wall Street index rose on Thursday in anticipation of strong corporate earnings reports, as well as weakening geopolitical tensions. It’s because US President Donald Trump's promises of a military strike on Syria failed to come true.
The Australian dollar grew after the release of data on China's trade balance and the Financial Stability Review from the Reserve Bank of Australia.
The RBA in its review told that Australia's financial system is stable, banks are well capitalized, they make a good profit, and the risks of bank capital seem limited. It is also noted that the high debt of households, the more risky lending of recent years remains a macro-financial risk. Although the risks have somewhat decreased due to prudential measures, tightening of credit standards. The RBA says that the risks to the Australian economy due to China are still high.
According to the data of the Main Customs Administration of China, this Asian country’s trade deficit in March in dollar terms accounted for $4.98 billion after a surplus of $33.75 billion in February.
Exports from China declined in March at an annualized rate of -2.7% having soared 44.5% in February. Import to China grew by 14.4% having jumped by 6.3% in February.
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.