The euro gains ahead of EU response to the virus
29 June

The euro gains ahead of EU response to the virus

Technical Chart of the day: EURUSD

 

 

The euro is set to wrap up its best two months against the dollar in a year and a half, as hopes for a united EU response to the virus and a swift regional recovery propel the single currency ahead about 2.5% since the beginning of May. The single currency rose 0.2% to $1.1243 this morning having found solid support around $1.1167.

 

It is also an important week for U.S. data with the ISM manufacturing report on Wednesday and payrolls on Thursday, ahead of the Independence Day holiday. Federal Reserve Chair Jerome Powell is also testifying on Tuesday.

 

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