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D. Trump is the main newsmaker of the day

D. Trump is the main newsmaker of the day | 02 August 2019

02 August 2019, EUR/USD

EURUSD trading plan:

The main newsmaker of the day is D. Trump, who announced the introduction of new duties on Chinese goods from September the first. This event caused a sharp decline in the yield of US bonds - yield of 10-Year US government bonds fell below 1.89%. FED-30 indicates a 90% chance of the US Federal Reserve rate cut at a meeting on September 18. With a probability of 50%, the Fed rate will be lowered at a meeting on December 11. This is a negative signal for the U.S. currency. We are seeing a demand for gold that will have a positive impact on the value of the euro.

Trading recommendation: Buy 1.1068 and take profit 1.1125.

David Johnson
Analyst of «FreshForex» company
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