EUR/USD Value Fluctuates Near 1.0230, May keep Moving Up

Updated:

EUR/USDis hovering around the 1.02220 price level, following its getting to 1.0268 in a day. Predictions that the ECB (European Central Bank) might become less traditionalist combined with other news to affect the Eurozone. This propelled EUR as the USD lags.

Chatters proposed that the ECB members may price in a rate increase of 25 or 50 bps during their next gathering. Additionally, the European Union has declared that it would lessen sanctions against Russian banks. This is geared at allowing food trade. Also, investors entertained news indicating that Gazprom will start supplying gas to Europe by the 21st of July. This development will support the EUR against the USD.

EUR/USD Value Fluctuates Near 1.0230, May keep Moving Up

Additional EUR/USD Price Dictating Factors

The world money market improved, as European Indexes recorded significant profits and Well Street reached new July heights. However, the United States Treasury yield stayed depressed, which portrays recession worries. These affected the EUR/USD price movement.

Furthermore, last month’s (June) European CPI grew by 8.6% Year over Year. Also, the main inflation was recorded at 3.7% at the same time. Construction production in Europe spiked by 0.4% Month over Month. Oppositely, the Unites State published that Construction permit reduced by 0.6% Month over Month. While Housing also went down by 2% in the same month.

Today, the economic calendar will consist of Germany’s PPI. Also, the European Union will publish this month’s Consumer Confidence. The United States calendar will have only the current Home Sales to present. These data will be key in determining further directions of the EUR/USD.

You can purchase Lucky Block here.  Buy LBlock

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.