Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD continued to fall for three straight days and reached a new two-month low of 1.0707, as the greenback remains strengthening across the FX board. Uncertainty around the US debt-ceiling discussions and upbeat US economic data bolstered the […]
Strong US Data Triggers Hawk Tone in Market… *The first quarter GDP in the USA, which we are watching today, grew by 1.3%, exceeding the expectations. The economy was expected to grow by 1.1%. Weekly Unemployment Pension Applications, another important data announced at the same time, increased less than expected and came in at the […]
Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD is mixed on the Federal Open Market Committee minutes that show the board members agreed that inflation risks are still unacceptably high but officials also generally agreed that the extent of further hikes are less certain. EUR/USD […]
FOMC Meeting Minutes to be Announced… *In the UK, the Consumer Price Index (CPI) for April, which was announced today, exceeded the expectations and increased by 1.2% monthly and 8.7% annually. Data were expected to increase by 0.8% and 8.2%, respectively. The previous data showed an increase of 0.8% monthly and 10.1% annually. Core CPI, […]
Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD maintains its bearish tone on Tuesday, seeing its decline accelerate to the 1.0760 area as the dollar continues to face upward pressure, while unease over the US debt ceiling continues to weigh on sentiment. Meanwhile, talks over […]
Debt Ceiling Talks in the USA Start Again Today… *In the Euro Area, the Manufacturing PMI for May, which was announced today, decreased from 45.8 to 44.6, and the Services PMI from 56.2 to 55.9. The data was expected to come at 46 and 55.6 levels, respectively. The PMI data we follow on the UK […]
Fed Bullard ‘Can Raise Rates Another 50 Bp’ * Minneapolis Fed Chairman Kashkari said today on the interest rate hike process, that there is a desire to increase interest rates or close to a pause at the June meeting, that they should protect the economy from debt default and that they are likely to go […]
FED/Logan “Data Doesn’t Support Skipping Rates“ *Weekly Unemployment Benefit Applications, which we tracked in the USA, came in at the level of 242 thousand people, below the expectations. The data was expected to come at the level of 254 thousand. Philadelphia Fed Business Index, another important data announced at the same time, came in at […]
Discussions on Debt Limit in the USA Continue… *In the Euro Area, the Consumer Price Index announced for April increased by 0.6% on a monthly basis and by 7.0% on an annual basis. Data was expected to increase 0.6% monthly and 7.0% annually. Core CPI, on the other hand, came in as expected, increasing 1.0% […]
Speaker of the US House of Representatives “No Progress in Debt Ceiling Talks” The Unemployment Rate for March in the UK, announced today, rose from 3.8% to 3.9%. While 182 thousand people were employed in March, the number of unemployed increased by 46,700. The GDP that we tracked for the first quarter in the Euro Area […]