Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback regains some footing
On Thursday, the evergreen buck tacked on, paring some of the losses it faced after Donald Trump told that a shutdown of the government was probable and even threatened to cancel the North American Free Trade Agreement.
On Thursday, Trump warned that he might terminate the NAFTA trade treaty with Canada and Mexico after three-way negotiations didn’t managed to bridge deep differences. Additionally, he told he might shut down the government if he fails to obtain funding to erect a wall on the US-Mexico border.
His remarks emerged ahead of a looming debate in Congress as for lifting the debt ceiling, and also knocked the US currency lower on Wednesday.
On Thursday, the evergreen buck managed to regain some ground. Against the Japanese yen, the US currency went up 0.1% being worth 109.19 yen, having dropped 0.5% on Wednesday.
The greenback’s upside potential seems restricted for now, as some financial experts point out.
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.