Euro Falls Amid Risk Aversion On Trump’s Comments

The euro declined against its major counterparts in the early European session on Friday, as European shares declined after U.S. President Donald Trump further ratcheted up the rhetoric over North Korea, suggesting that his “fire and fury” comments may not have been tough enough.

The president said “things will happen to them they never thought possible” should Pyongyang attack the United States or its allies.

While cautioning Kim’s regime against taking any steps to attack Guam, Trump vowed that the U.S. would respond with “fire and fury” to any strike against the U.S. or its allies.

The euro traded mixed in the Asian session. While the euro held steady against the greenback and the pound, it fell against the yen and the Swiss franc.

The euro dropped to 128.07 against the Japanese yen, its lowest since July 6. Continuation of the euro’s downtrend may see it challenging support around the 126.00 region.

The single currency fell to a 2-day low of 1.1273 against the Swiss franc, from a high of 1.1332 hit at 5:00 pm ET. The next possible support for the euro-franc pair is seen around the 1.10 mark.

The European currency edged down to 0.9051 against the pound and held steady thereafter. The pair finished yesterday’s trading at 0.9072.

The euro pared gains to 1.1750 against the greenback, from a high of 1.1779 hit at 1:00 am ET. On the downside, 1.16 is likely seen as the next support for the euro.

The euro retreated to 1.4955 against the loonie, 1.6116 against the kiwi and 1.4942 against the aussie, from its early high of 1.5008, near 3-month high of 1.6228 and more than 4-week high of 1.5011, respectively. If the euro extends decline, it may target support around 1.48 against the loonie, 1.58 against the kiwi and 1.46 against the aussie.

Looking ahead, U.S. CPI for July and U.S. Baker Hughes rig count data are due to be released in the New York session.

At 9:40 am ET, Federal Reserve Bank of Dallas President Robert Kaplan is expected to speak about economic conditions and monetary policy at an annual continuing education event for accounting professionals, in Arlington.

At 11:30 am ET, Federal Reserve Bank of Minneapolis President Neel Kashkari is expected to speak at the Independent Community Bankers of Minnesota Annual Convention.

The material has been provided by InstaForex Company –

Source link

About admin

Share a little biographical information here to fill out your profile as the author. Just fill the "Biographical Info" form in the User Profile section in your Dashboard. Also... use your email that connect with Gravatar, so your pict will appear in the left.
Forex Bundles

Leave a Reply

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


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Scroll To Top

Subscribe to get this amazing EBOOK FREE

Please provide an email address where we should send the download link.


Hosting by