Exchange rates on FOREX: The dollar shows gains. On the wave of global risk aversion, the zloty (PLN) depreciated against the euro (EUR)

The EURUSD tried to strengthen during the European session and temporarily fell even below 1.04, but the later report on the US economy budget. House. it pushed the quotes back around 1.05, reflecting weakening market confidence in the Fed’s determination to deliver imminent and significant rate hikes. Finally, the rate closed the day at 1.0480.

We believe that the potential for EURUSD growth to 1.06 is limited, and yesterday’s increases were caused only by bad data from the US. When data from the rest of the global economy join this, EURUSD should return to testing 1.0350 as part of risk aversion. Therefore, we will look for hills on the course.

Michael Cooper

Learn More →