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EUR/USD moved sharply lower on Friday; the slide through 1.1030 support will erode technical support and the break below the key 1.1000 level will also undermine the eur bulls' confidence, potentially targeting 1.0845.
The latest data fom the eurozone confirmed that manufacturing remained in recession in August. The UK manufacturing data also recorded a further deterioration to 85-month lows. In this context, investors are discouraged with a bleak outlook for the European economy.
On Monday, US financial markets are closed for the Labor day holiday that will inevitably subdue trading activity. Investors are cautious awaiting key economic data this week. The ISM manufacturing data will be released on Tuesday. Besides, the crucial data on the US labor market is due on Friday.
There is certainly the risk of weakness in the ISM manufacturing release, but the US dollar is still seen as the best of a bad bunch in the short term.
There is also evidence of a lack of dollar liquidity in global markets which will underpin the US currency. Therefore, some one is still poised to sell EUR/USD.
Labor Day may also stem the flow of rhetoric from President Trump. There is, however, no doubt that he will be watching the markets closely. On Friday, he continued his criticism of the Federal Reserve and noted that the euro was declining sharply which he also claimed was the result of the Fed's procrastination.
President Trump remains a wild card in the short-term outlook. With the euro at two-year lows and the Chinese yuan at 11-year lows, the risk of US intervention or legislation in an attempt to weaken the dollar is a clear danger.
Any direct intervention would push the US dollar sharply lower in an immediate response even if the moves are retraced quickly.
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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
El par de divisas GBP/USD continuó cayendo durante el jueves. El dólar fortaleció sus posiciones durante tres días consecutivos, para lo cual objetivamente no había ninguna razón. El contexto macroeconómico
El par de divisas EUR/USD volvió a negociarse el jueves con bastante calma, pero esta vez la divisa estadounidense ya no logró mostrar un fuerte crecimiento. Lo bueno, en pequeñas
El par GBP/USD se corrigió ligeramente a la baja después de subir el lunes sin motivo aparente. Sin embargo, llamar a este movimiento mínimo hacia abajo un «crecimiento del dólar»
El par de divisas GBP/USD también se negoció el lunes con baja volatilidad y prácticamente en una dirección lateral, aunque la libra esterlina mantiene una ligera inclinación alcista. A pesar
El par de divisas GBP/USD el viernes también se negoció con baja volatilidad y sin ningún entusiasmo. Sin embargo, la libra esterlina todavía mantiene una ligera inclinación alcista
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