The Euro exchange rate has updated the maximum against the dollar

  • And
  • +A

Thursday, July 5, during the European trading session the us currency is trading on the downside against other major currencies except the Japanese yen. The leaders of growth is the single European currency. At the time of writing the Euro rose against the dollar by 0.43%, the new Zealand dollar against the US dollar by 0.35%, the British pound to grinbek – 0.26%.
The Euro-dollar pair rose today to the level 1,1711, which is 61 points above the current minimum. The Euro has swept the second wave of buying yesterday news Agency Bloomberg, which says that the rate hike in the Eurozone in the second half of 2019 is too late.
The strengthening of the Euro also contributed to today’s level of industrial production in Germany in may. Manufacturing orders in Germany rose more than expected. According to the statistical office Destatis, production orders in may rose 2.6% m/m (consensus: 1.1% m/m), y – o-y 4.4% y/y (consensus: 1.7%).
The Euro made new high and is trading at 1,712. Buyers aimed at around 1,1736 (112 gr.). If 1,1726 not followed by a sharp pullback, it means that the correction will start from 1,1750.
The yen traded against the dollar in the red, and Frank in positive territory. Both currencies are protective assets, so follow their dynamics today. Why? China customs has reported responses in the case of raising taxes in the USA. New Chinese duties on American products will begin to act immediately after the entry into force of the tariffs of Washington for goods from PRC (July 6). A trade war will have a negative impact on risk assets and a positive on the defensive.
______________
Vladislav Antonov,
Analyst
Alpari