ECB President Mario Draghi has set the mood for the American trading session.
He made it clear that the financial regulator was not ready to resume the assets purchases yet.
Amid these comments the euro-dollar pair hit daily highs.
However, the price reversed the upw rd movement
and retreated to 1.1300.
This level serves as the resistance, and the pair has been unable to break above it so far.
Investors need a good reason to start buying the single European currency again.
Meanwhile, no important reports are scheduled for release in the United States, so nothing
can help the euro to assert its strength.
The reaction of the American currency to the
positive sentiment of the European traders
The US dollar index retreated slightly, but
stayed near the level of 96.70.
Probably, the greenback will resume a rally
on Friday ahead of the job market data release.
The Canadian currency also had a good reason
to extend gains.
The manufacturing PMI report showed somewhat
better results in June than in May.
The index inched up to 49.2 from 49.1 points.
Moreover, the reading exceeded analysts’
Nonetheless, the index remained below 50 mark
that separates the contraction and expansion
So, traders’ reaction to this news was not
as good as it could be.
The USD/CAD pair was stuck in a tight range
near the level of 1.3120 despite a plunge
in oil prices that occurred after some dissonance
between OPEC+ members had been revealed.
Further on, cryptocurrencies were seen to
be trading in a bearish channel.
Bitcoin has fallen for the fourth session
in a row.
After the recent surge of 300%, prices reversed
to the downside despite all technical signals.
At the moment of preparing materials for this
video, bitcoin was slightly above the psychological
level of $10,000 per coin – near 10,400 mark.
That is all for today.
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