Euro Has Reached a New High and Declined Overview 27.07.2017

27.07.2017

In the morning on Thursday Euro has hit a new high 1.1777, and after that it began to decling smoothly. Investors refrain from selling the main pair even on the back the pair being overbought. Currently the pair holds at 1.1723.

The last Fed's meeting held yesterday hasn't changed anything. The basic rate has been kept within the target range 1.00-1.25% annually and Fed announced it would begin selling the bonds as of September this year. The Fed's official said in their accompanying statement they would "soon enough" begin selling the assets. There was no press-conference scheduled for this time, that is why market players had to estimate by themselves. The market noted that the time for selling bonds may fall on time of new concerns about US government debt. And this fact has played against US dollar. The "debt celling" reminds of itself one time in 12-14 months, and each time it is more and more difficult to make a decision on this issue.

Interesting statistics is expected to be published in the evening today. Data on volumes of orders for durable goods in June will be published. Also, the market will see the US wholesale orders in the last months and trade balance of goods. In addition, a weekly report on unemployment claims will be published also. The dollar has the chance to rise against Euro moderately, but probability of it is low enough.

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.