EURUSD Technical Analysis: How TradeBalance Impacts the Euro
Wednesday, 21 August 2024, 02:40
EURUSD Movement Influenced by TradeBalance
The recent current account data reveals a significant surplus of over EUR50bn, a monthly record that signals positive momentum.
Implications for EURUSD
- Strong current account data supports a bullish outlook for EURUSD.
- ING’s FX strategist Chris Turner notes these trends could drive the Euro higher.
Traders should monitor how these developments affect market sentiment and the strength of the Euro against the USD.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.