{"id":111976,"date":"2017-08-31T06:56:54","date_gmt":"2017-08-31T10:56:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=111976"},"modified":"2017-08-31T06:56:54","modified_gmt":"2017-08-31T10:56:54","slug":"eurusd-closing-of-long-positions-may-gather-pace","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-closing-of-long-positions-may-gather-pace\/","title":{"rendered":"EURUSD: closing of long positions may gather pace"},"content":{"rendered":"
August 31, 2017<\/div>
\r\n<\/div><\/div>

By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

\n

Previous:<\/strong><\/p>\n

On Wednesday the 30th<\/sup>\u00a0of August, trading on the euro\/dollar closed down. Despite aggressive rhetoric from Pyongyang, tensions surrounding North Korea seem to have subsided. The UN Security Council labelled their missile launch as a threat to global security, but fell short of proposing any new sanctions. Investors have accordingly started to move away from safe haven assets (bonds, the Swiss franc, yen, and gold), which has bolstered the US dollar. Later, the US dollar surge gathered momentum after a favourable ADP jobs report and revised GDP data were released. The euro fell 103 pips from 1.1984 to 1.1881.<\/p>\n

The statistics from Automatic Data Processing showed an increase in employment of 237,000 (forecast: 185,000) on the previous month, whose value was revised upwards from 178,000 to 201,000.<\/p>\n

The GDP index for the second quarter was revised upwards to 3% YoY. The corresponding figure for the first quarter was 1.2% YoY. The inflationary components of the GDP index remain at relatively low levels.<\/p>\n

Day\u2019s news (GMT+3):<\/strong><\/p>\n