EURUSD increased when the dollar decreased heat
Updated
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In recent days, the USD has been weakening and strengthening the EUR significantly. Let's delve deeper into this currency with Karina!
The USD has declined against other currencies in the recent trading session, following the decrease in the US Treasury's interest rates, as traders anticipate new economic data from the US later this week.
Previously, the interest rates of US Treasury bonds had surged since mid-July, contributing to the attractiveness of the USD and helping the DXY index increase by over 6%. However, this index has shown little volatility since the beginning of October. "It is surprising that both the sell-off of long-term bonds and the situation in the Middle East, as well as the safe-haven asset status, are unable to continue driving the USD."
The depreciation of the USD has greatly benefited the EUR/USD, causing it to rise in value. Currently, the EUR/USD is trading at 0.0684, marking a 0.15% increase for the day. The short-term upward trend is indicated on the 4-hour time frame, and if the EUR/USD maintains its momentum, it may reach resistance at a high level according to Fibonacci retracement levels at 1.080.
In recent days, the USD has been weakening and strengthening the EUR significantly. Let's delve deeper into this currency with Karina!
The USD has declined against other currencies in the recent trading session, following the decrease in the US Treasury's interest rates, as traders anticipate new economic data from the US later this week.
Previously, the interest rates of US Treasury bonds had surged since mid-July, contributing to the attractiveness of the USD and helping the DXY index increase by over 6%. However, this index has shown little volatility since the beginning of October. "It is surprising that both the sell-off of long-term bonds and the situation in the Middle East, as well as the safe-haven asset status, are unable to continue driving the USD."
The depreciation of the USD has greatly benefited the EUR/USD, causing it to rise in value. Currently, the EUR/USD is trading at 0.0684, marking a 0.15% increase for the day. The short-term upward trend is indicated on the 4-hour time frame, and if the EUR/USD maintains its momentum, it may reach resistance at a high level according to Fibonacci retracement levels at 1.080.
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