Following on the heels of Trump, whose words regarding the halting of the stimulus deal brought on a risk aversion sentiment in the market – in Europe, the words of ECB’s President, La Garde were not brighter as she expressed concerns about the economic recovery and ‘that she fears that instead of a V-shaped recovery, the rebound would be shaky’.
It is good thing that the EUR/USD was resilient to these comments – and came in at a fresh 2 week high of 1.1807. This is most likely attributed to the strengthening of the USD due to the risk aversion sentiment. The RSI points towards a further appreciation as it breaks out of the downward trend.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now