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technical analysis

The US dollar was seen posting declines after price turned flat in the previous two sessions. Lack of any economic data from the US saw investors focusing on Friday’s payrolls report and Fed Powell’s speech. The Fed Chair did not commit to easing but cautioned against the risks of lowering interest rates prematurely. Elsewhere, safe-haven assets took a breather with investors looking for news from the US and China trade talks which are due to resume in October.

Euro Rises on Germany’s Plans

The common currency was seen taking advantage of a weaker USD and some fundamental developments. Germany’s government is reportedly looking at ways to increase government spending. Dubbed as a shadow budget the plans are underway to circumvent the strict debt rules. Reuters reports that officials are looking at ways to set up public entities in order to take advantage of cheap borrowing costs to boost the economy.

EURUSD Bounces Off Support

The EURUSD currency pair bounced off the support level nea...

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