The pair will break out from a major resistance line, sending the pair higher towards another major resistance line. The United States had its lowest jobless claims since the coronavirus outbreak. Unemployment in the country for the previous week climbed by only 1.5K compared to the first week of March at 3.3K and the first week of April at 6.6K. Aside from that, crude oil inventories were stabilizing at 5.7 million barrels per day (bpd). As the US shows signs of economic recovery, the European Union is struggling with its post-coronavirus world. The largest trading bloc is divided when it comes to a unified plan on the budget that must be spent as economic aid. Imports and exports between member states were still at rock bottom. Hungary’s trade balance hit its lowest level in more than 15 years. The European Commission already proposed lifting external borders of its members on July 01 to restart the largest trading bloc’s economy.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.