Despite the US market holiday today, Veterans Day, trading in the EUR/USD currency pair followed a relatively predictable direction.
Following yesterday’s US inflation data, which came in higher than expected, expectations of higher interest rates by the end of the year strengthened. This provided additional support for the US dollar, as investors shifted towards the American currency in anticipation of better returns.
After yesterday’s dollar gains, the upward momentum accelerated further today. The move began towards the end of the Asian trading session and continued throughout the entire European session.
The likelihood of the US dollar’s strengthening trend continuing over the coming days, through the end of the trading week, remains high.
A breakout or at least a test of the psychologically important 1.10 level in EUR/USD appears increasingly likely.
Below, we present the results of our latest trading session, along with the recorded growth of our trading account. All performance figures can also be independently tracked and verified through the FXBlue platform.
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