The new stimulus for the euro? Mario Draghi sent EUR/USD lower on the dovish hints.
This is the most important news in the Forex market today.
Greenback tacks on ahead of GDP data
On Friday, the evergreen buck rallied because traders awaited data on the strength of the American economy for the second-quarter.
Estimating the purchasing power of the major American currency against its main counterparts, the USD index managed to gain by up to 0.06% coming up with a reading of 94.63.
The second-quarter gross domestic product is expected to be uncovered soon. Market participants are going to monitor the numbers for clues of a strengthening American economy, with many investors hoping that the American economy would record its most impressive expansion for four years. On Thursday, US leader suggested that the American economy would manage to expand by approximately 4%.
Firm economic surge would undoubtedly underpin hopes for the major American bank to keep gradually lifting interest rates.
In addition to this, the evergreen buck was also underpinned by trade negotiations between America and the European bloc. US leader and European Commission President Jean-Claude Juncker met on Wednesday and made up their mind to stay away from slapping car duties as the countries started talks to have trade barriers removed.
The evergreen buck headed south versus the safe-haven Japanese yen. As a matter of fact, the currency pair USD/JPY inched down about 0.04% ending up with an outcome of 111.18. As a rule, in times of uncertainty, market participants are used to investing in Japan’s currency, has a reputation of a safe asset during tough times.
Besides this, the British pound slumped. The currency pair GBP/USD inched down 0.10% trading at 1.3096. The common currency dived. The currency pair EUR/USD dipped by 0.10% hitting 1.1630.
As for the Australian dollar, it stood still. The currency pair AUD/USD stuck with 0.7376. Additionally, the currency pair NZD/USD dived 0.29% showing 0.6768. As for the Canadian dollar, it managed to ascend versus the US currency. USD/CAD slumped 0.05% reaching 1.3065.
Similar
The euro has risen above the 100-day MA on the comments by Mario Draghi
During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Will the jobs data support the aussie?
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
