Trade tensions persist but euro posts gains anyway

Posted 04 June, 2018

The European currency went up at at the start of the week driven by the decreasing fears of a possible escalation of international trade tensions. With strong economic reports in the USA, demand for risk assets improved.

The euro-to-US dollar exchange rate rose to some 1.1726 for now, and thus managed to offset the decline faced last Friday.

At the same time, the US-China trade talks were mainly fruitless last weekend, which only fueled expectations of unsuccessful negotiations between the countries.

The US Dollar index dropped to 93,47, after a 0.22% decline recorded at the end of last week. 

According to the news reports, the euro went up seeing better sentiments in the market with improvements in Italy. In particular, two populistic parties eventually established colation parliament, so the country managed to avoid re-elections, which could become a referendum regarding Italy's further EU-membership.

The market somewhat recovered once the USA released positive labour data. According to the report released last Friday, the job openings and salary increase accelerated in the USA last month. Thus, this supported players' forecasts that the US Federal Reserve may revise the rate in June.

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04 June, 2018 17:35

← Blockchain developer Qulian Technology completes funding round with $234 million investment

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Blockchain developer Qulian Technology completes funding round with $234 million investment

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