The Euro stopped falling. Overview for 02.08.2019
On Friday morning, EURUSD stopped plummeting; it is ready to reach stability.
At the end of this volatile week, the major currency pair is ready to consolidate. The current quote for the instrument is 1.1080.
Yesterday, the US President Donald Trump announced more import tariffs (10%) on Chinese goods starting September 1st, 2019. In total, it’s about goods worth 300 billion USD. However, these new sanctions don’t mean that the previous 25% were cancelled. Trump said that he liked China, but the pace the Chinese government was working at wasn’t good for the United States.
The USD started rising, but the numbers interfered. The ISM Manufacturing PMI decreased to 51.2 points in July after being 51.7 points in the previous month and against the expected reading of 52.0 points. However, the same index, but from Markit, increased to 50.4 in July after being 50.0 points in June. пунктов против 50,0 пунктов прежде.
The Construction Spending lost 1.3% m/m in July after decreasing by 0.5% m/m in June, although it was expected to show +0.5% m/m.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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