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Analysis and trading tips for EUR/USD on January 19
Author: Pavel Vlasov
Hot topic: Coronavirus (COVID-19)
The pound sterling is so much overbought that even the bank holiday in the US did not hinder its decline, albeit a minor one. Today.
The EURUSD currency pair, after an intensive upward movement, switched to correction mode, returning the quote to the previously passed value of 1.1400. Based on the price behavior, there.
Inflation in the United States, although it is growing, is doing it slower than expected, which for the market, which managed to scare itself with the prospect of raising.
The pound cannot calm down in any way and continues to persistently go up, although this is already happening largely due to speculation about the actions of the Federal Reserve.
The US NFP report stirred up market activity. The pound sterling resumed an upward movement immediately after its release. It was rather strange given that unemployment dropped to 3.9% from.
A sharp surge in new cases of coronavirus in the United States has affected movements of many currency pairs on Forex. This topic is likely to largely influence the market.
The continuing holidays in the UK are not an obstacle for the pound, which still continues to grow, albeit not as much as last week, and all this only confirms.
The single European currency has shown pretty good growth, despite the fact that there was no real reason for this, unless you take into account the fact that it returned.
After the European and British currencies had an exemplary rebound relative to Friday’s collapse, the market gradually went into a pronounced horizontal movement, which could last right up to Thursday.
If we rely on the macroeconomic statistics published on Friday, then everything started quite calmly for the single European currency. The final data on inflation completely coincided with the preliminary.
Following the results of the FOMC meeting, almost all parameters of the monetary policy remained unchanged. The regulator only trimmed the quantitative easing program by another $30 billion. Market participants.
As expected, the UK unemployment rate dropped to 4.2% from 4.3%, whereas the growth pace in the average earnings index slackened less than anticipated. Thus, the indicator increased by 4.3%.
The market has been speculating on the possibility of unexpected interest rate hikes by the US Federal Reserve for almost a month. It has even drawn direct parallels with.
Only weak data on repeated applications for unemployment benefits were able to stop the weakening of the single European currency, but apparently only for a while, and the rise.
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