EUR/USD Gains Due to US Negative Monthly Budget Report

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By more than 11 pips, the price of the EUR/USD currency pair rose this week. It was the best news of the whole week for the pair.

Experts say that it is encouraging to see the EUR/USD pair trading at higher above 1.1460 today.

The new smooth and swift migration has begun, pushing the EUR/USD out of the darkroom and into the brightness of the morning, when many prospects for financial people are created, leading them to a level of luxury.

Along with the support levels that do their best to bring the pair’s price to an appropriate level, there are unfavorable economic updates from the United States, which surely cause other currencies to rise against it.

EURUSD

According to economists’ rojection, the budget might stay at $-21 billion in December, compared to the month’s index of $-19 billion.

This report is summarising the financial activity of federal entities, disbursement officers, and Federal Reserve institutions.

As a result, the negative budget statement receives a deficit budget and be bearish for the USD.

And, as a result of this negative news, the German euro is advancing and approaching its optimal level, and if it continues to get negative news from the US economy, EUR/USD pair will undoubtedly reach its top, which is only a few steps away, as seen in the chart below.

Conclusion

For short- and medium-term trades, taking the investment step now may be the best option.

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