FXStreet – The Euro extended its losses against the US Dollar. In American business the currency pair of the Multi-month highs and fell through the psychologically important mark of 1.10 to 1,0914. Most recently it was listed with a daily loss of around 70 Pips on 1,0925/30.
The Euro fell after a strong start, as a reaction to the French presidential elections under pressure. The victory of the Pro-European, Emmanuel Macron was already priced into the rate and so the Euro lost momentum. In the American trading hours, the US Dollar is also on the accelerator and sent the EUR/USD to reach the lower floor.
After the elections are behind us, is likely to be the main focus of market participants back on the economic data and Central banks. In the United States, said today the Fed is the Head of Cleveland Loretta Mester, the goals mostly were achieved, and on the way to the next base rate increase. Later stressed by St. Louis Fed President Bullardthat there is no reason for further interest rate steps.
The US Dollar remained on a broad Front in the fast Lane and barely responded to the comments of the non-voting member of the US-based Bank. The stock markets were barely changed and the US bond yields were slightly higher in the Plus. The fear barometer, the VIX, fell today to a new Multi-year Low.
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The currency pair jumped in early Asian trading for the first time since November about the brand from 1.1000 – could not hold the level, however, and turned to the South. Now, the next supports lie at 1,0900 (psychological mark) and 1,0870 (previous week low).
The chart technical situation brightens, however, when the Euro first of all the Resistors in 1,0950, 1,1000 and 1,1020 (daily high).
** FXStreet News Editorial, FXStreet**