- Euro gains moment after Lagarde conference.
- The dollar with weakness before the drop in yields, but with support from the fall in the stock markets.
The EUR / USD faced ups and downs around the corner following the European Central Bank and US data release. The euro recently climbed to a one-week high at 1.1830. It is trading in positive territory for the day, but with gains still limited.
The meeting of the European Central Bank (ECB) did not leave big surprises. As expected, interest rates and purchase programs were maintained. The change in forward-looking orientation did not generate surprises, nor did Lagarde’s remarks.
The euro it is trading the market above the level it had before the events of the ECB. The price could have been discounting a stronger accommodative instance.
The dollar shows mostly negative results, as a result of a drop in Treasury bond yields. In addition, the report of weekly requests for unemployment benefits showed figures below expectations, which gained strength.
In the last hour, the greenback gained ground against currencies linked to commodities, cutting losses before an opening of the main Wall Street indices in mixed terrain, far from the highs that future hours were pointing to.
Technically, EUR / USD starts to point higher after forming a good base at 1.1750. If confirmed above 1.1830, the euro will be better positioned to extend the rises. Below 1.1760, downward pressures would increase. Below 1.1750 the next relevant support is the 1.1700 area.
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.
