Early in another week of July, the major currency pair is rising but the market activity is quite limited.
EURUSD is slowly rising on Monday but bulls don’t seem to be very active. The current quote for the instrument is 1.1315.
The start of this week is expected to be very calm, mostly due to the lack of macroeconomic reports and important market events. However, later market players will surely have something to respond to.
A lot of attention is now paid to what US President Donald Trump is saying. However, not all of his statements are interesting to investors: they mostly care about the President’s words about US-Chinese relations. For example, last Friday Trump stated that the COVID-19 pandemic period significantly poisoned relations between the countries, that’s why he wasn’t sure whether the parties would resume Phase 2 of their trade talks soon.
In fact, even in the theoretical lack of progress in this issue is extremely negative: the point is that investors are preferring to avoid it right now.
This week, the European Central Bank is scheduled to have a meeting, where the regulator may say some interesting estimations of what is happening in the region’s economy. The interest rate is highly likely to remain unchanged, as well as the asset-purchasing program. However, market players might be offered the results of the stimulus measures implemented earlier. Any hints at that may support the European currency.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.