On Thursday, EURUSD retreated to its two-month lows and may fall even deeper.
The major currency pair remains weak and continues falling on Thursday afternoon. The current quote for the instrument is 1.1660.
Demand for the “greenback” as a “safe haven” asset knocks down other traded currencies. At the moment, market players are nervous due to the increasing number of new coronavirus cases: Spain. Germany, Portugal, and several other countries update their daily records – yes, they take more tests, hence more new cases. However, it doesn’t mean that there will be no second wave of the pandemic, which is expected to be very harmful to the global economy
In this light, the USD is feeling absolutely strong and stable and may easily boost its way up.
The statistics published yesterday showed that the preliminary reading of the Markit Services PMI in the USA showed 54.6 points in September after being 55.0 points the month before. The Manufacturing PMI improved from 53.1 points to 53.5 points over the same period of time.
There are no important statistics from the USA and Europe today but there will be another speech delivered by the US Federal Reserve Jerome Powell.
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.