EURUSD is falling deeper. Overview for 09.07.2019
The major currency pair updated its two weeks lows; investors believe in the USD.
The Euro continues falling against the USD on Tuesday. The current quote for the instrument is 1.1208.
The US labor market numbers published last Friday continue supporting the USD. The fact that the country’s economy is back to creating a lot of new jobs slowed down market expectations on the rate cut by the US Federal Reserve in July. It’s not cancelling the general idea, but a lot of market players believe that’s not a good idea to decrease the rate and soften the regulator’s monetary policy right now.
No important statistics from the Euro Area are scheduled for today.
In the afternoon, the USA are going to report on the NFIB Small Business Index for June, which may drop down to 103.2 after being 105.0 point the month before. Later in the evening, several FOMC members, such as Bullard, Quarles, as well as the Chairman Powell, are scheduled to speak. The latter may say something about the regulator’s monetary policy and possible rate cut aspects. It’s very important for the USD. The more specific the speech is, the more vividly the American currency may respond.
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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