Market Overview

Midday EURUSD roundup

The dollar index fluctuates close to 94.0, near the lower bound of the trading range for the last three months. EURUSD is at 1.1690, after another unsuccessful attempt to take the resistance at 1.1700 earlier today.

Bullish: EU leaders are gathering in Austria in an attempt to overcome the difficulties of Brexit. The dollar is on the decline across the market, on restoring of the demand for risk assets.

Bearish: Balance of payments surplus has been decreasing for the fifth month in a row. Important support for the dollar index near 94.0. Resistance on 1.1700 that EURUSD cannot take over for the fifth trading session in a row.

Next focus on: U.S. Building Permits and Housing Starts in August and U.S. Current Account balance figures for 2Q18. The previous data were marked by a record deficit in the last 9 years.

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