- MarketPulse - https://www.marketpulse.com -

EUR/USD – Euro gains ground, investors eye Fed minutes

EUR/USD has posted gains in the Tuesday session. Currently, the pair is trading at 1.1515, up 0.29% on the day. There are no eurozone or U.S events on the schedule. On Wednesday, the U.S releases Existing Homes and the Federal Reserve will publish the minutes of the July policy meeting.

The euro has declined more than 2% in August, but is enjoying a mini-rally. EUR/USD has posted gains over four straight days, as the strong U.S dollar has given up some ground to its major rivals. The euro has pushed above the 1.15 line on Tuesday, for the first time since August 10. Investor risk appetite is higher, on the news that the U.S and China are holding trade talks later in the week. The U.S is unhappy with the Chinese protection of local markets and technology transfers required in order for U.S businesses to operate in China, but it’s questionable if the Chinese will show much flexibility. Both sides have slapped tariffs of $34 billion on each other’s products, with another $16 billion in tariffs scheduled for August 23. If the negotiations lead to the suspension of the upcoming tariffs, risk appetite would rise and the euro could gain ground. However, the talks involve low-level officials, so the meetings are unlikely to result in a breakthrough in the US-China trade spat.

  Aussie firmer as Turnbull survives leadership vote [1]

Tuesday (August 21)

Wednesday (August 22)

*All release times are DST

*Key events are in bold

EUR/USD for Tuesday, August 21, 2018

EUR/USD for August 21 at 5:50 DST

Open: 1.1483 High: 1.1542 Low: 1.1481 Close: 1.1515

EUR/USD Technical

S1 S2 S1 R1 R2 R3
1.1223 1.1312 1.1434 1.1553 1.1637 1.1718

EUR/USD posted gains in the Asian session. The pair is steady in European trade

Further levels in both directions:

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Kenny Fisher

Kenny Fisher [5]

Market Analyst at OANDA [6]
A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.
Kenny Fisher

Latest posts by Kenny Fisher (see all [5])