- The downward correction of the dollar favors the recovery of the EUR / USD.
- Equity markets are recovering ground and the Treasury bond market is stable.
- Ahead: ECB minutes and data requests for unemployment benefits in the US.
EUR / USD extended the rebound after falling to 1.1528 on Wednesday, the lowest level since July last year and climbed to 1.1570. It then corrected lower, but remained above 1.1550 and is approaching daily highs.
USD falls back, data is coming
The dollar lost strength due to an improvement in the mood of the markets. The possibility of an agreement in the US to solve the problem with the legal limit of indebtedness, and also, before a relief in the problems with the energy sector in Europe after the decline in prices contributed to this.
The loss of strength of the dollar favored the EUR / USD. The dominant trend is still down, but the rise brought some relief for the common currency. However, the euro is still setting week lows against the Swiss franc and the pound.
In minutes, the European Central Bank publish the minutes of the last meeting of the Governing Board. If there are no surprises, it is not expected to have an impact on the market.
Later it will be the turn of the weekly report of Unemployment Benefit Claims in the US The data will serve as one more than the previous one in the official employment report on Friday. Initial jobless claims are expected to drop to 348,000. Also on Thursday, the president of the Federal Reserve Bank of New York, John Williams, will make a public presentation.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
