Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
EUR: beating the USD so far
Information is not investment advice
At the beginning of Thursday, we were not sure whether the EUR/USD would hold ground at the level 1.1000 which is was testing during the day. Eventually, not only it managed to hold but firmly broke it to rise to 1.1100 and above. Currently, the nearest bullish target is the lower March resistance of 1.1140. Will the EUR/USD have enough strength to beat it? There is a probability for that knowing that the EUR is pushed by the economies recovering and financial aid on the table of the European Commission. However, as the US-China tensions keep increasing, the USD may get the upper hand on risk-off moods given the coming announcement Donald Trump promised to make on the subject before this weekend. So a reversal is possible to get EUR/USD back down as well. Watch that closely and trade wisely!
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2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.