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Tuesday, June 19th The EUR/USD pair failed to extend its recovery and fell to its intraday lows, located on the level of 1.1571, following broad market trend. Today one of the main drivers across the market remain the US dollar price movements, determined by the escalation of dispute between the US and China. Recall, on Friday China announced tariffs on US imports, despite the US President’s warnings of a possible retaliatory measures. However, the response from the US side was immediate and Mr. Trump announced additional tariffs on $200 billion of Chinese goods. On another front, ECB President M. Draghi is expected to deliver his speech on ECB Forum in Sintra today, where markets expect to see fresh comments on the QE program and further actions of the Bank. However, according to broad market forecasts Mr. Draghi will keep his dovish tone in line with previous rhetoric, seen on the press conference last week. Besides ECB President’s speech, investors will also pay attention to the US macroeconomic data, which will be published during the NA session.
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