The USD remains a favourite. Overview for 21.07.2021

EURUSD is falling while financial markets are escaping the risks. 

The major currency pair continues falling as long as investors are interested in escaping the risks. The current quote for the instrument is 1.1760.

Market players like the “greenback” and it’s pretty clear why – the epidemiological situation is getting worse, the number of new cases is quickly increasing, and the Indian strain tends to be very aggressive. All these factors, in their turn, may force global authorities to get back to social restrictions coming from the pandemic. Such measures would slow down the global economic recovery. 

On top of that, the US 10-year bond yield is growing again, thus providing the USD with significant support. 

The Euro is falling before tomorrow’s meeting of the European Central Bank. The benchmark interest rate is not expected to change but investors are counting on hearing some comments about the future monetary moves. Judging by the statistics published recently, the chances for early termination of the stimulus program are rather low. 

There won’t be any important reports from both the USA and Europe today. In this light, market players prefer to focus on the available factsб which means that the USD may continue strengthening.

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Source: RoboForex


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