Find Out What's Happening In The European Session Market - Kakiforex | Forex markets for the smart money. Find Out What's Happening In The European Session Market Find Out What's Happening In The European Session Market

May 4, 2021

Find Out What's Happening In The European Session Market

 The greenback climbed higher at the start of the European session, as markets re -entered risky sentiment on Tuesday by bringing trades of most major currencies lower.


The safe-haven US dollar benefited from a cautious market after seeing a lackluster reading of US manufacturing data.


Federal Reserve (Fed) chairman Jerome Powell said the recovery seen now is uneven and stressed that low -income people are still struggling to get back to work.


Meanwhile, New York Fed Chairman John Williams also supported Powell’s statement by stating that the U.S. economy is still far from full recovery and not enough to push them to change current policy.



On the positive side, the European Union (EU) plans to lift restrictions on vaccinated tourists by next summer to attract more tourists.


In addition, the U.S. will also begin easing some restrictions in New York, New Jersey and Connecticut and reopening business activities.


Against a basket of major currencies, the dollar index traded higher around 91.30.


The rise of the greenback dollar also dragged euro trading lower, wiping out gains made earlier in the week and continuing to struggle above the 1.2000 price.