EUR/USD to raise prospects for further gains on a break above 1.1915
|The EUR/USD pair trades in the 1.1870 region, recovering from an intraday low of 1.1861, and shows bullish potential amid the persistent dollar’s weakness, Valeria Bednarik, Chief Analyst at FXStreet, reports.
The ECB could start reducing its bond purchases during the summer
“The shared currency found support in comments from Robert Holzmann, Austria central bank Governor, as he said that the European Central Bank might be able to start reducing its bond purchases during the summer.”
“US Initial Jobless Claims for the week ended April 2 resulted at 744K worse than the 680K expected and the previous 728K. Later today, US Federal Reserve chief Jerome Powell is due to participate in a panel discussion about the global economy at a virtual International Monetary Fund Seminar.”
“EUR/USD is mildly bullish in the near-term. At this point, the EUR/USD pair needs to advance beyond 1.1915 to gain bullish traction.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.