The main currency pair is growing in response to statements from China.
On Thursday morning, EURUSD started rising quickly after being rather weak during yesterday’s trading session. The current quote for the instrument is 1.1700.
The US markets are closed in the middle of the week due to the Independence Day celebrations, that’s why the economic calendar has no any numbers from the USA these days. Still, there are some reports from the Euro Area, but they couldn’t make the main currency pair move quickly.
Nevertheless, even under such conditions there was one driver that caused some movements on the market. First of all, Bloomberg reported that some of the ECB members with the right to vote didn’t exclude a possibility of the benchmark rate hike until the end of 2018.
It seems quite strange, because not long time ago the ECB Governor Mario Draghi announced the regulator’s decision to extend the QE program with the monthly volume of 30B EUR until the end of 2018. Under such conditions, there isn’t any “room” to increase the rate.
Apart from this, investors are analyzing statements from China to ignore threats and blackmail from the USA. On July 6th, the USA are going to introduce new import duties for Chinese goods. New import duties will apply to two lists of goods and, of course, it makes China and other market players feel nervous. Earlier, China told that it was going to do the same and wouldn’t take the American protectionism.
Orgin: RoboForex
