(DJIA) Dow Jones Index Rising, Investors Confidence In The Euro Is Looking Bullish As ECB Confirm Interest Rate Increases

A Technical Look At The Movement Of The Euro To US Dollar (EUR/USD) Pair

Summary:

  • President Joe Biden's announcement of possible easing of tariffs on goods from China fairing well for U.S stocks.
  • Euro expected to continue strengthening.

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U.S stocks showing signs of recovery

The Dow Jones Index rose almost 2% during the trading day on Monday. U.S stocks recovered on Monday in the wake of investors coming-off a 7 week losing streak. The recovery comes after investors received some fresh-trade related information from the Biden Administration.

On Monday President Joe Biden announced that he was considering easing tariffs on Chinese goods due to the belief that the tariffs caused financial harm on consumers and businesses.

DJIA Price Chart

DJIA Price Chart

ECB Interest rate hike is confirmed

The Euro exchange rate performed well on Monday thanks to the European Central Bank's president confirming that there will be interest rate hikes in July. The Euro responded well to this information and strengthened against both the US Dollar and the Pound.

Leading up to the confirmation of the rising interest rates, the Euro had been strengthening, in the wake of the interest rates being risen, investors believe that the Euro will continue to strengthen.

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Sources: finance.yahoo.com, poundsterlinglive.com

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A Technical Look At The Movement Of The Euro To US Dollar (EUR/USD) Pair

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.