Euro backs towards Dollar after visiting the $1.09 quota

Madrid, Spain stock exchange
Ibex rises 0.14% after its opening
April 7, 2017
Wall Street closes on a rise - Photo by Spencer Platt
Wall Street closes on a rise: Dow Jones rise a 0,33% after GDP data
April 10, 2017

Euro backs towards Dollar after visiting the $1.09 quota

EUR / USD forex

EUR / USD forex

The Euro started this week with strength on the Foreign Exchange Market against the main crosses, attacking the journey last Monday the psychological quota of $1.09 exchange the American Currency.

Euro showed a positive tone towards USD on Forex during the last Monday session, showing a continuous raise to the last week movement that preceded it, and raising it to the levels that visited since last November beginnings.

US Dollar regresses towards the main Forex crosses at the beginning of the week, showing a decreasing continuity that started after the most recent increasing of the types of interests that U.S Federal Reserve made, falling to minimum in four months towards the main rivals in Foreign Exchange.

Euro Status

Euro increased the lowering pressure over the American Dollar after the Trump’s administration failure to approve the legislation that had as a goal to repeal and replace the current and updated law of the Project known as Obamacare.

The EUR-USD which is the cross on Forex Euro with US Dollar, it marked its highest peak of the last four months after visiting the quota of $1.09, bouncing towards the currency weakness, and surpassing the highest levels last December 2016.

However, the European Union slowed down its progress towards US Dollar after the last statements of the FED members, regressing from the $1.09 quota, and falling 0.26% towards the US bill, after the opening on the European Stock Exchange this week.

Dollar Reaction

US Dollar reacted on the rise on Forex after several members of the FED have reiterated the supporting message of a gradual monetary adjustment for this year by cutting the gap towards Euro on the negotiation journey held in the middle of last week.

Janet Yellen federal reserve

Janet Yellen,  Chair of the Board of Governors of the Federal Reserve System

Stanley Fischer, who is the current FED vice-president did not deny the support of an increase of the gradual rates, expressing that two of the additional increments of the types of this year interest seem to be right. While Janet Yellen, who is the president of Central Bank eluded to make any comments about the monetary policy in the last intervention.

The FED governor, Jerome Powell declared last Tuesday the impact of the policies of the new President of the United States, the criticized Donald Trump, on his country economy is still very uncertain for the organism to start to reformulate the perspective.

The dollar trimmed the spot during the Asian session against the euro on the Forex, boosted by the rise in consumer confidence in the United States which rose to its highest level since 2000.

In this way, Euro is currently set in a regressing of 0.26% up to the level of $1.0789 per Euro.

Leave a Reply

Your email address will not be published. Required fields are marked *