EUR/USD is clearly around 0.9% higher after the commercial announcement. The main point of purchase for the euro is that it is a large and liquid alternative to the US dollar, and that the problems of the dollar (weaker US consumption) are greater than those of the euro, says Chris Turner, FX analyst of ING.
The main medium -term resistance is located in the 1.11/12 zone
“We also think that some medium-term factors are at stake, since Washington wants a weaker dollar and that some communities of important investors, such as currency reserve managers, will seek a weakest long -term dollar. “
“While a global commercial war in theory is negative for the euro, the weak side of the US economy is the dominant factor for the EUR/USD at this time. A much more acute mass sale in US actions, dragging US rates Main in the medium term is located in the area of ​​1.11/12.
“At the moment, however, it is expected that the EUR/USD Cotice depending on the history of US actions, where protectionism memories will be aroused causing mass sales.”
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.
