- EUR / USD price remains flat after falling from the day HIGH.
- The removal of the fed Governor Cook created a chaos on the market.
- The imposition of American digital taxes can initiate another trade war between the EU and the USA.
The price of EUR / USD remains flat near 1.1630, at the time of writing, during the wound of the European session. The pair withdrew from the Intradai Highs of 1,1660 how uncertainty in the eurozone increases, leaving traders cautiously to the recently manual. On the other hand, political turbulence in the US also adds uncertainty in the market.
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The immediate shock came from Washington, where the American president announced the removal of the Governor’s deafness due to the alleged mortgage fraud in Georgia. The federal reserve quickly rejected the move, with the chef stating that the president has no authority to fire the governor who serves. However, the announcement grew market feelings as investors considered effort to weaken the autonomy of the Central Bank. The American dollar briefly fell, but he recovered that traders reviewed the risks of political intervention in Fed Policy.
Markets now take a Trump maneuver as a recording to replace the cook with a loyalist pigeon to start aggressive relief. Perception borrowed a certain support to Greenback, with stronger chances from reducing the rate in September. However, the dollar gains remain fragile in the middle of institutional resistance to political interference.
Across the Atlantic, the euro failed to use the volutility of dollars because the French is facing the voting of reliability 08. September, after the party oppositions rejected the proposal for reducing budget spending. If the government is crashed, the euro could lose further. According to the Analimities of the OCBC, the wider concern is that in France, the budget deadline could be resonated throughout Europe. This could shake the trust of investors when growing concerns are already peaked.
Adding more pressure, President Trump threatened to impose digital taxes on all countries, directly direct the Law on EU Digital Services. It could start another transatlantic trade conflict, limiting potential for Euro sets.
Data ahead: K2 GDP, Core PCE
No significant data today. However, the American K2 GDP and the American core PCE index due later this week, which could provide an incentive for the market.
EUR / USD Price Technical Analysis: Customers appear on 1,1600
The four-sea card for EUR / USD depicts strong support in 1,1600, despite the corrective side after the publication of the affected candle. Although the price moved below the key average average, interest is recorded for the purchase of the DIP, forming a pin bar.
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The RSI is below the 50.0 mark, but it leans northwards suggests space for upside down. If the price lasts above the 1.1600 mark, it can set it again 1,1700.
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