In the FX market, the USD sold off significantly and EUR/USD initially bounced to 1.1678 after US President Donald Trump criticised the Fed in an interview with CNBC by saying that he is ‘not thrilled’ with the Fed rate hikes, notes the research team at Danske Bank. Key Quotes “He also said he would not interfere with the Fed and we doubt the Fed will change its course due to the well-known Trump view. Yesterday’s sell-off in the USD seems a bit overdone in our view.” “We have argued that a trade war is more likely to be USD positive due to the less open US economy and we still expect EUR/USD to trade at the low end of 1.15-1.21 in coming months. Technically, the 100-day EUR/USD moving average has broken below the 200-day moving average, which is usually a bearish sign for the cross.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD ate the low hanging fruit, moving higher from here is hard Yohay Elam 5 years In the FX market, the USD sold off significantly and EUR/USD initially bounced to 1.1678 after US President Donald Trump criticised the Fed in an interview with CNBC by saying that he is 'not thrilled' with the Fed rate hikes, notes the research team at Danske Bank. Key Quotes "He also said he would not interfere with the Fed and we doubt the Fed will change its course due to the well-known Trump view. Yesterday's sell-off in the USD seems a bit overdone in our view." "We have argued that a trade war is more likely to be USD positive… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
