EUR/USD Is Between Scylla And Charybdis
USD started its fall today at the end of the Asian session. There were no specific fundamentals behind the pull-back. The exhaustion of the bulls and the plunge of the treasury yields did their modest bit.
Besides, the risk-aversion triggered by North Korea that declared its possession of ballistic missile that would be able to reach the US territory soon.
EUR has its own troubles. In spite of the fact the pair surged up to 1.1788 today, the situation is quite shaky. It seems like the markets don’t know what to do and what to expect at the moment, so they just go with the stream.
Euro may receive a painful kick from the parliamentary meeting in Catalonia. By hearsay, Spain prepares forces in order to rein in Puigdemont, if he does declare independence.
Under these circumstances, USD positions are stronger than euro’s. Yes, North Korea offered one more reason to worry about. But hasn’t the markets already got used to it?
Catalan crisis, if aggravated, will make the pair break through the key support level at 1.1730. This will probably depend on the reaction of Madrid, which may be tough.
Besides, the risk-aversion triggered by North Korea that declared its possession of ballistic missile that would be able to reach the US territory soon.
EUR has its own troubles. In spite of the fact the pair surged up to 1.1788 today, the situation is quite shaky. It seems like the markets don’t know what to do and what to expect at the moment, so they just go with the stream.
Euro may receive a painful kick from the parliamentary meeting in Catalonia. By hearsay, Spain prepares forces in order to rein in Puigdemont, if he does declare independence.
Under these circumstances, USD positions are stronger than euro’s. Yes, North Korea offered one more reason to worry about. But hasn’t the markets already got used to it?
Catalan crisis, if aggravated, will make the pair break through the key support level at 1.1730. This will probably depend on the reaction of Madrid, which may be tough.
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