EUR/USD: Price continues to fall. Next Target: 1.0700
So far, it doesn't look like the selling momentum in EUR/USD will stop.
The greenback trades in peaks that last for more than a week against its main rivals.
Germany's final GDP growth rate was bad news for investors.
The selling of the euro keeps going strong for another session, bringing EUR/USD to a new two-month low around 1.0715 on Thursday.
The EUR/USD fell because people were buying USD and because of the debt ceiling.
EUR/USD loses ground for the third day in a row and trades in the low 1.0700s for the first time since mid-March. This is because it always follows the steady rise of the US dollar, which seems to be supported by the strong rebound of US yields across the curve.
In fact, the fact that the debt ceiling problem hasn't been solved keeps putting more pressure on the risk complex. This gives the dollar more strength and pushes the USD Index (DXY) to the area of multi-week highs. In this situation, McCarthy, the speaker of the House of Representatives, said he thought a deal could be reached before June. However, the rating agency Fitch put the country's AAA credit rating on "watch" late Wednesday, which made people even more worried.
The greenback trades in peaks that last for more than a week against its main rivals.
Germany's final GDP growth rate was bad news for investors.
The selling of the euro keeps going strong for another session, bringing EUR/USD to a new two-month low around 1.0715 on Thursday.
The EUR/USD fell because people were buying USD and because of the debt ceiling.
EUR/USD loses ground for the third day in a row and trades in the low 1.0700s for the first time since mid-March. This is because it always follows the steady rise of the US dollar, which seems to be supported by the strong rebound of US yields across the curve.
In fact, the fact that the debt ceiling problem hasn't been solved keeps putting more pressure on the risk complex. This gives the dollar more strength and pushes the USD Index (DXY) to the area of multi-week highs. In this situation, McCarthy, the speaker of the House of Representatives, said he thought a deal could be reached before June. However, the rating agency Fitch put the country's AAA credit rating on "watch" late Wednesday, which made people even more worried.
Komen:
✅ Price continues to fall . Previous Winning Idea.
