The market does not know you exist. You can do nothing to influence it. You can only control your behavior
The single currency lost ground to $1.1215 on the back of a strong U.S dollar as concerns about a rise in new coronavirus cases globally and higher-than-expected U.S. unemployment claims drove demand for the safe-haven currency.
The Sterling sank to $1.2430, falling more than 1% after the Bank of England increased its bond-buying programmed by 100 billion pounds ($125 billion) to bolster the coronavirus-hit economy.
The Japanese Yen firmer at 106.80/dlr as investors place a premium on safety in the face of political and pandemic uncertainties.
The Aussie dollar crawled to $0.6855 from the session low of 0.6840 after Australia reported a rise in retail sales in May.
South Africa's rand tumbled to 17.49 against the U.S dollar despite the country loosening coronavirus restrictions as global risk sentiment was hurt again by fears of a second wave of infections.
The USD/MUR climbed by 10 cts to 40.30(selling) this morning
10:00 - GBP - Retail Sales (MoM) (May)
14:00 - EUR - EU Leaders Summit
16:30 - CAD - Core Retail Sales (MoM) (Apr)
21:00 - USD - Fed Chair Powell Speaks
- From an Elliott Wave standpoint, USDCHF could potentially unfold into compelling impulsive Wave C of the zigzag correction of Wave (2) to a narrowing region 0.9550 (50% retracement of Wave (1)) to 0.9395 (100% projection of Wave A through B) in the near term trend, from the downside bias from April 6th high of 0.9797.
- Price could immediately start to shoot back up into Wave (3) on a longer perspective.
- Piercing above the resistance 0.9905 would endorse the structure.
- Alternatively, broader bearish invalidation of Elliott Wave Structure rest at 0.9191 of March 9th low while Relative Strength Index signals a bullish recoil higher for the pair.