- The EUR/USD advances Thursday in the middle of the appearance of new USD sales.
- Uncertainties related to trade keep investors away from making directional bets.
- The Trump press conference at 14:00 GMT is expected to obtain a significant impulse.
The EUR/USD torque attracts some buyers in the fall during Thursday’s Asian session and reverses part of the night fall from the resistance zone of 1,1375-1,1380. However, cash prices remain confined in a family range maintained during the last week or so, and are currently negotiated above the 11300 brand.
Friedrich Merz’s choice as German chancellor reduces uncertainty in the economic power of the Eurozone and provides some support to the common currency. The US dollar (USD), on the other hand, struggles to gain significant traction despite the hard line of the Federal Reserve (FED) on Wednesday, and turns out to be another factor that acts as a tail wind for the Eur/USD torque.
In fact, the president of the FED, Jerome Powell, said that there is a lot of uncertainty about US commercial tariffs and that the right thing is now to expect more clarity. This, in turn, suggests that the US Central Bank is not inclined to cut rates in the short term. However, the growing economic uncertainty led by the commercial tariffs of US President Donald Trump keeps the USD’s bulls on the defensive.
Meanwhile, investors remain on alert to the rapid change of Trump posture about commercial policies. In addition, the European Union will supposedly propose tariffs on Boeing airplanes if conversations with the US fail, increasing the risk of a greater escalation of the commercial conflict. This, in turn, keeps operators away from carrying out aggressive directional bets around the EUR/USD and leads to a moderate price action.
The operators now expect the publication of the data of the US unemployment subsidy applications, although the approach will remain focused on Trump’s press conference at 14 GMT in the Oval office later during the US session. This will play a key role in the influence of USD price dynamics and will provide some impulse to the EUR/USD.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. US dollar was the strongest currency against the Swiss Franco.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | -0.13% | 0.10% | 0.05% | -0.23% | -0.27% | 0.19% | |
| EUR | 0.00% | -0.11% | 0.13% | 0.03% | -0.22% | -0.26% | 0.20% | |
| GBP | 0.13% | 0.11% | 0.25% | 0.15% | -0.09% | -0.14% | 0.28% | |
| JPY | -0.10% | -0.13% | -0.25% | -0.06% | -0.34% | -0.38% | 0.03% | |
| CAD | -0.05% | -0.03% | -0.15% | 0.06% | -0.28% | -0.32% | 0.10% | |
| Aud | 0.23% | 0.22% | 0.09% | 0.34% | 0.28% | -0.04% | 0.38% | |
| NZD | 0.27% | 0.26% | 0.14% | 0.38% | 0.32% | 0.04% | 0.42% | |
| CHF | -0.19% | -0.20% | -0.28% | -0.03% | -0.10% | -0.38% | -0.42% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
