The majors keep their ranges today. The US dollar is under pressure in light of the uncertainty over the tax-cut details. During the Asian session, USD tried to gain some points, but the attempt was ineffectual.
The US currency started the European trades on the back foot. EUR, vice versa, has reaped the harvest today. The EU Commission raised Eurozone economic growth forecast for 2017 to 2.2% from 1.7%, and ECB’s Coeur said the Eurozone economic growth was the fastest in 20 years.
This news helped EUR/USD to surpass the 1.16 important barrier and to touch the highs at the 1.1644 area. Most of all, today Germany confirmed the healthy state of the region's economy. Positive German trade data brought joy to the markets, too. As it's said, in an empty field, a beetle is meat.
The US dollar needs a positive trigger. Otherwise, the shared currency will confirm the breakout and settle above the important psychological level at 1.16.
The US currency started the European trades on the back foot. EUR, vice versa, has reaped the harvest today. The EU Commission raised Eurozone economic growth forecast for 2017 to 2.2% from 1.7%, and ECB’s Coeur said the Eurozone economic growth was the fastest in 20 years.
This news helped EUR/USD to surpass the 1.16 important barrier and to touch the highs at the 1.1644 area. Most of all, today Germany confirmed the healthy state of the region's economy. Positive German trade data brought joy to the markets, too. As it's said, in an empty field, a beetle is meat.
The US dollar needs a positive trigger. Otherwise, the shared currency will confirm the breakout and settle above the important psychological level at 1.16.