EUR/USD Gains Strength To Fresh 2-Week Highs
- Trade Magnates Team
- Oct 11, 2017
- 1 min read
Trade Magnates -The EUR/USD pair gained strength in the late NA session and reached to a fresh two-week top at 1.1870. The greenback came under pressure after the FOMC released the September meeting minutes gaining strength around 1.18-. FOMC minutes showed that some members were worried that the low inflation may not be due to temporary factors and argued that it would be appropriate to delay hikes until proof of pick-up is being seen.
Furthermore, San Francisco Fed President John Williams said that he was losing confidence that a tax reform would be seen in the next six months. On Thursday, the industrial production data from the eurozone will be featured before the weekly jobless claims and September PPI data are released from the U.S. later in the day.
Market uncertainty remains and technical indicators don’t show any trend within the short term.