Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback dips in Asia on G20 trade views
On Monday, the US dollar dived further in Asia with the greenback index sagging below 100 with worries over comments made at the weekend at a gathering of finance ministers from leading economies, which pointed out to a lack of cohesion on global trade policies.
Finance ministers from twenty of the world's leading economies met and also warned against competitive devaluations, though failed to agree on keeping global trade free and open.
Japanese markets are unavailable for a holiday.
The currency pair AUD/USD hit 0.7725, ascending 0.26%, USD/JPY reached 112.52, tumbling 0.15%, GBP/USD showed 1.2387, descending 0.07%.
Meanwhile, the PBOC set the Yuan mid-point at 6.8998 against the greenback, compared with the previous outcome of 6.9030.
The US dollar index, estimating the greenback’s value against a trade-weighted basket of six crucial currencies, dived 0.17%, being worth 99.97.
The previous week, the greenback slid to fresh five-week minimums against a basket of the other crucial currencies on Friday amid hopes that the Fed will increase interest rates at a more gradual rate than some market participants had previously anticipated.
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.