4.07 - Independence Day gives EUR/USD a much needed break-out
- by Anna K.
United States are off for the Independence Day today which means that trading is not going to be as active as during the other days. But, this might be just what the greenback needs as the American currency is going lower and lower together with bond yields although even this couldn’t save EUR/USD from hitting fresh lows, but it could save the couple from renewing the low level as we can see – the European currency surges as USD is not as actively talks about today. So, the day off for USD might mean the possibility for other currencies to grow as they haven’t exactly been using it for the last couple pf days despite the fact that USD was just as weak then.
It seems that Trump didn’t want for other currencies to get all of the attention as before going for the day off he stated that Europe and China are manipulating their currencies and exchange rates. Trump already tried to pull off a stunt like that with China, but back them one can say he was more successful in it. Now traders do not care what he has to say. Just like the American citizens the markets just need to wait him out from the Presidential seat as his controversial statements only spoil trading for all of us.