The news from the United States of America may lead to an increase in the exchange rate of the euro against the dollar

Between the euro and the dollar, it is not yet clear who will be the winner

After hitting the end of the session on March 7, the euro recovered against the dollar to close the week with a fractional rise. An increase that could also continue over the next few weeks. In fact, the news coming from the United States of America may lead to an increase in the exchange rate of the euro against the dollar.

What data is driving the dollar down against major global currencies?

Dollar weakness The Friday after February, US jobs data showed a Slowing wage growth. This number points in the direction of a possible easing of inflationary pressures. Subsequently, The rate of price rise interest from the Federal Reserve It may grow slowerwhich reduces the attractiveness of the dollar.

Added the American economy Jobs at a fast pace in februaryHowever, sluggish wage growth and rising unemployment prompted financial markets to scale back expectations for a 50 basis point rate hike when the Fed’s policy makers meet in two weeks.

Another event that can prompt a file A slowdown in interest rate policy upwards is so from Silicon Valley bank failure. Indeed, one of the reasons for this failure may be the rapid growth of interest rates. Therefore, a slowdown may be necessary to avoid similar situations.

News from the US could push the EURUSD exchange rate higher: graphic indicators

On March 10, it was closed Euro dollar exchange (FXEURUSD) was at 1.0642, up 0.54% from the previous session. The week ended up 0.07%.

daily timeframe

Graphically Gear setting The euro dollar is bullishbut one is found Very strong opposition in the 1.0686 area. the Overcoming from this level Open the door to the growth of the exchange rate to the region of 1.101.

The bears can regain control of the trend, with targets below the level, for a daily close below 1.0586.

For several sessions now, the averages of the euro-dollar exchange rate have been flat and give no indication of the current direction.

Weekly timeframe

The situation is very uncertain. So it is advised to wait a little longer to understand which way the prices can move.

Averages crossed down, but quotes are basically flat – Depositidiborsa.it

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