Following
4/23/2021 3:10:56 PM GMT
The ECB held a cautious stance on economic progress, maintaining the monetary policy unchanged.
The US Federal Reserve is not expected to surprise market participants next week.
EUR/USD is technically bullish, but investors may soon return to dollar buying.
The EUR/USD pair has advanced for a third consecutive week, now firmly anchored above the 1.2000 threshold and not far from an over one-month high of 1.2079. The shared currency surged on risk-appetite, triggered by upbeat US data released these days, as the market is not ready to resume self-strength trading.
US tax hikes overshadow upbeat data
In fact, the American currency attempted to overcome sentiment-related trading and advanced against the shared currency mid-week, but dollar bulls gave up on Thursday after speculative interest negatively reacted to news indicating that US President Joe Biden is planning a tax hike of up to 39.6% on investment gains for Americans making more than $ 1 million. The aim is to fund education spending and child care.