At the end of last week, the fall of inflation indicators in the United States, as predicted, led to a sharp depreciation of the dollar. As a result, the dollar index fell to 101.60 points. If the “bears” can continue the downtrend, the DXY may test the 100-point level.
Publika.az reports that according to the analysis, if the downward trend in the Dollar index deepens, the EUR/USD and GBP/USD exchange rates may rise to $1.09 and $1.23, respectively.
At the same time, the inflation indicators to be announced in Germany and Canada, as well as the statistics on the labor market to be published in England, as well as important information such as the ZEW Economic Activity Index in the Eurozone and Germany will be in the focus of investors.
The demand for gold continues to increase against the backdrop of a sharp devaluation of the dollar. If the price of the precious metal can break the $1,915 level per ounce, the upward trend may continue to $1,925 and $1,942. According to the analysis, the $1942 level acts as the main psychological resistance level.
(İnvest.az)
#euro #expensive