Vea también
04.07.2024 11:06 AMLooking at the economic reports, it seems strange for the dollar to weaken. The final data on business activity indices in the Eurozone turned out to be better than the preliminary estimates, but the same thing happened in the United States. However, we're talking about a decline in the Eurozone, while US indicators showed growth. Moreover, employment growth in the United States was much higher than expected. So it should have been logical for the dollar to rise.
The issue lies in the growing influence of political factors. The debates between Biden and Trump threw the Democratic Party and its supporters into a state of panic. Just yesterday, media outlets began publishing articles suggesting that Biden might withdraw his candidacy from the upcoming presidential election. This introduces a significant factor of uncertainty, which contributed to the dollar's weakness.
Today, the market will likely remain stagnant in observance of the Independence Day holiday in the US.
EUR/USD is showing a surge in the volume of long positions, so the pair has left the range of 1.0670/1.0750. As a result, the quote has locally risen above the 1.0800 level. In order to enter the next stage of growth, the price must settle above 1.0800, which could indicate a recovery process relative to the recent corrective cycle. Otherwise, the price could turn the other way and move towards the upper boundary of the previous range.
GBP/USD is experiencing a similar surge in the volume of long positions. The support level at 1.2600 serves as a base from which the price reversed. Buyers face a significant level at 1.2800, an area that has repeatedly acted as resistance.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
