After another fall in tandem with the European currency, the US dollar managed to regain its positions by the end of the day when the Republicans intensified their efforts aimed at changing the law on affordable health care.
Yesterday, it became known that the debate in the Senate on the revision of the law on public health had started again that keep the hopes up for investors that the administration of Donald Trump will manage to implement at least one of his campaign promises. It is aimed at stimulating economic growth.
Yesterday, the results of the data indicated an increase in activity in the manufacturing sector of states in Central America.
According to the Federal Reserve Bank of Richmond, the production index for the year.
The reduction of the unemployment data in France did not significantly support the European currency in the afternoon.
According to the report of the Ministry of Labor, the number of unemployed in the first category has decreased by 0.3% to more than 3 and a half million compared to May.
As of today, most traders and investors are focused on the decision of the Federal Reserve System on monetary policy.
For today, the prices are only 3% chance of raising the Fed's rates.
As for the technical picture of the EUR/USD pair, most of it will depend on how the traders react to the support level of 1.1635 and a breakdown could lead to the removal of a number of stop orders and a formation of a larger downward trend with the update of 1.1600 and 1.1565. If the Fed makes more serious statements regarding their intention to raise interest rates this fall, the U.S. dollar will increase which will lead to a stronger fall of the trading instrument in the area of 1.1520 and 1.1480.
Fed's restrained position on monetary policy may lead to the renewal of demand for the euro and a breakout and a return to the level of 1.1670 will lead to the continuation of the upward trend with the update of 1.1710 and 1.1760.