Trading Mid-Day Update (06/08)
During today’s Currency Call, Scott highlighted that a catalyst will be required in order to move the U.S. Dollar Index. At the moment, the Dollar Index is trading at the 90 level.
The U.S. Trade Balance data will be released later at 2030 (GMT 8).
Also, the U.S. JOLTS Job Openings data will be released later at 2200 (GMT 8).
Wait for the data to be released before looking for trading opportunities.
Jin highlighted that the eurozone GDP data that will be released at 1700 (GMT 8) is expected to remain unchanged.
The European Central Bank (ECB) will be announcing their monetary policy decision this Thursday at 1945 (GMT 8). A press conference will be held at 2030 (GMT 8). Pay attention to whether the central bank is planning to signal any further stimulus or carry out any actions to boost the euro.
During the day, EUR/USD weakened.
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