{"id":115076,"date":"2017-10-20T07:40:50","date_gmt":"2017-10-20T11:40:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=115076"},"modified":"2018-06-01T15:55:30","modified_gmt":"2018-06-01T15:55:30","slug":"eurusd-news-from-the-us-sinks-buyers","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/eurusd-news-from-the-us-sinks-buyers\/","title":{"rendered":"EURUSD: news from the US sinks buyers"},"content":{"rendered":"<div id=\"inves-3732546212\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 20, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong>Previous:<\/strong><\/p>\n<p>On Thursday the 19<sup>th<\/sup>\u00a0of October, trading on the euro\/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro\u2019s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government\u2019s intention to impose direct rule on Catalonia after the region\u2019s president, Carles Puigdemont, refused to rule out an official declaration of independence.<\/p>\n<p>The government wants to chair an emergency meeting on Saturday in order to trigger Article 155 of the Spanish Constitution; thereby limiting the authority of the Catalonian government. The euro rate restored to 1.1858 but erased most of these gains this morning following news from the US.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: PPI (Sep);<\/li>\n<li>09:35 Japan: BoJ governor Kuroda\u2019s speech;<\/li>\n<li>11:00 Eurozone: current account (Aug);<\/li>\n<li>11:30 UK: public sector net borrowing (Sep);<\/li>\n<li>15:30 Canada: retail sales (Aug), CPI (Sep);<\/li>\n<li>17:00 USA: existing home sales (Sep);<\/li>\n<li>20:00 USA: Baker Hughes US oil rig count;<\/li>\n<li>21:00 USA: FOMC member Mester\u2019s speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/10\/eur_201017.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>After the euro hit the low target in the forecast, the price returned to 1.1858. As I said above, this was helped by increased demand for the euro on the crosses.<\/p><div id=\"inves-1889301897\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>On Friday the 20<sup>th<\/sup>\u00a0of October, the US dollar made gains in Asia on news about tax reform. The US Senate has approved the budget for 2018. This has strengthened the Republican Party\u2019s position on tax reform, as it will allow them to get their proposed tax legislation through the Senate with a simple majority vote.<\/p>\n<p>US 10Y bond yields jumped 1.8% to 2.359% on this news. The dollar followed suit, rising against the majors. The euro rate dropped by 50 pips to 1.1808. The euro\u2019s slide was limited thanks to continued support from the EURJPY, EURCHF, EURAUD, and EURGBP pairs.<\/p>\n<p>On Friday, I\u2019m expecting to see the rate drop to 1.18, while my forecasting model sees it dropping to 1.1776. Due to corrective phases on the cycles, the main drop is expected to happen on Monday.<\/p>\n<p>Now, if US 10Y bond yields continue to grow in Europe, and interest in the euro on the crosses subsides, then we will most likely see the rate drop to 1.1776. Since the Stochastic is down, I think we could see a pullback to 1.1830 before 14:00 (GMT+3).<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: news from the US sinks buyers<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 19th\u00a0of October, trading on the euro\/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro\u2019s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government\u2019s intention to impose direct rule on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-115076","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=115076"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115076\/revisions"}],"predecessor-version":[{"id":115077,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115076\/revisions\/115077"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=115076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=115076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=115076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}