Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Evergreen buck moderately soars against euro
On Friday, the evergreen buck moderately strengthened versus the common currency and became cheaper against the Japanese yen.
Market participants are awaiting April data on unemployment in America, being assured that they can set the direction of the currency market after the gathering of the Federal Reserve System that prevented investors from making a clear picture of the key US bank’s future plans.
The Fed kept its benchmark interest rate intact - from 1.50% to 1.75% after a two-day gathering, which concluded on Wednesday. The US major financial institution drew attention to the jump in inflation in the United States, although traders didn’t hear how improving inflation hopes will influence the rate of rate lift by the Fed.
The US Labor Department is expected to uncover data on unemployment for April soon. Experts on Wall Street on average expect a leap in the number of jobs in America the previous month by 188 thousand as well as a slump in unemployment to about 4% from 4.1%.
In April, the average hourly wage in the United States tacked on by up to 0.2% compared to the previous month, as financial analysts pointed out. In March, the leapt accounted for 0.3%.
At the same time the common currency headed south to $1.1978 against the evergreen buck versus $1.1988 at the close of yesterday's trading session in New York.
The value of the major American currency against the Japanese yen went down by the same time to 109.13 yen versus 109.19 yen the day before.
For the common currency up to 130.71 yens were given against the outcome of 130.92 yen demonstrated on Thursday.
The ICE index, traditionally gauging the fluctuations of the evergreen buck versus the six leading currencies, didn’t change in the course of trading.
The European central bank will publish the main refinancing rate and make a statement on Thursday, July 16, at 14:45 MT time. Also, the ECB’s press conference will be later at 15:30 MT time.
Optimism about the Moderna vaccine improved the market sentiment. Let’s have a closer look, what’s happening today.
The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.