{"id":154451,"date":"2019-08-30T07:30:14","date_gmt":"2019-08-30T11:30:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154451"},"modified":"2019-08-30T06:51:34","modified_gmt":"2019-08-30T10:51:34","slug":"eurusd-risk-of-dropping-to-1-10","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/eurusd-risk-of-dropping-to-1-10\/","title":{"rendered":"EURUSD: risk of dropping to 1.10"},"content":{"rendered":"
August 30, 2019<\/div>
\r\n<\/div><\/div>

By Alpari.com<\/a><\/strong><\/p>\n

\n
\n

On Thursday the 29th<\/sup> of August, trading on the EURUSD pair closed down. The pair rose to 1.1093 during the US session following comments from ECB Governing Council member Klaas Knot, who said that the ECB currently has no need for a renewed QE program (according to a report by Bloomberg).<\/p>\n

US data sent the euro down to new intraday lows. US GDP data showed a 2% rise in line with expectations. Germany\u2019s inflation report ensured that pressure on the euro remained, which posted a worse-than-expected reading for August.<\/p>\n

Markets were boosted by reports that the US and China are discussing the possibility of continuing trade negotiations in September. China\u2019s Commerce Ministry spokesman Gao Feng told reporters that China will hold off on introducing any countermeasures to newly imposed tariffs from the US as they look to set the conditions necessary for both sides to continue negotiations.<\/p>\n

This increased the appetite for risk among market participants, while safe haven assets such as the yen, franc, and gold, went into decline.<\/p>\n

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