Over the course of last week, EUR/USD extended recovery gains north of the 2020 yearly opening level at 1.1222, consequently grappling with trend line resistance into the close, a level extended from highs at 1.2555.
EUR/USD bulls entered a strong offensive phase Thursday, following Eur130 billion German fiscal stimulus, with additional impetus provided by the ECB exceeding expectations for a Eur500 billion PEPP boost.
Key risk events today: Australia Trade Balance; ECB Main Refinancing Rate, Monetary Policy Statement and Press Conference; Canada Trade Balance; US Unemployment Claims. (Previous analysis as well as outside sources – italics). EUR/USD: Europe’s single currency derived fresh impetus from upbeat Eurozone services PMIs and continued USD depreciation Wednesday. The US dollar index recorded its … Continue reading Thursday 4th June: Technical Outlook and Review
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Please find our updated Trading schedule for the Queen’s Birthday Holiday in Australia on Monday, 08th June 2020. Times mentioned below are Platform time (GMT +3).
The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.
