EUR/USD forecast: Euro has caught a tail-wind

Fundamental Euro forecast for today

The EUR/USD bulls are supported by good news from Asia and the stabilization of European financial markets.
For a long time, the entire financial world has been following the US, depending on the US stock indexes. However, the economic situation in the US is like “hope for the better but prepare for the worse”, and other countries are now coming in the game. The continuous growth of the Chinese stocks over the last seven days and the yuan’s rise to its four-month highs indicate the strength of China’s economy, which might become the world’s financial leader in the future. At the beginning of July, the Shanghai Composite, not the S&P 500, is the best indicator of the global risk appetite, the US stock index is following the Chinese and not vice versa.
Dynamics of S&P 500 and Treasury yields

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