The US Economy Has Grown Above Expectations ! FED Chairman Powell spoke about monetary policy at the ECB Forum today at 09:30 CEST. He indicated that the FED plans to raise interest rates twice more this year, highlighting the robustness of inflation and the job market. The FED places importance on the strength of the […]
Support Level: 1.0840 – 1.0800 – 1.0730 Resistance Level: 1.1010 – 1.1100 – 1.1200 EUR/USD EUR/USD snaps two days of straight gains drop on hawkish remarks by the US Fed Chair Jerome Powell, who shared a panel with the ECB President Christine Lagarde. Even though both policymakers struck hawkish remarks, the greenback finished with the […]
FED, ECB and BOE Will Continue Tightening, BOJ Divides… *We followed the panel discussion at the European Central Bank conference held in Sintra, Portugal, with the participation of the heads of four major central banks. ECB President Lagarde, Fed Chairman Powell, BOE Governor Bailey, and BOJ Governor Ueda made statements regarding monetary policy. ECB, Fed, […]
Support Level: 1.0840 – 1.0800 – 1.0730 Resistance Level: 1.1010 – 1.1100 – 1.1200 EUR/USD The Euro has continued its positive momentum from Monday, resulting in EUR/USD reaching the 1.0975/80 band, or 3-day highs, on Tuesday. On the other hand, the US Dollar is experiencing a downward correction, relegating the USD Index to trade in […]
Lagarde’s Statements and US Data Make an Impact on the Market… *We followed the Durable Goods Orders data in the US at 15:30. While the headline figure was reported at 1.7%, the core data came in at 0.6%. Despite this data coming in above expectations, it did not recover the Dollar Index, and the currency […]
Support Level: 1.0840 – 1.0800 – 1.0730 Resistance Level: 1.1010 – 1.1100 – 1.1200 EUR/USD After two consecutive daily retracements, including the drop to weekly lows near 1.0840, the Euro (EUR) regains poise and manages to leave behind the key 1.0900 barrier vs. the US Dollar, lifting a the same time EUR/USD to daily peaks […]
It has been a day that we have been following the impact of the uprising in Russia… *In Russia, over the weekend, there was an attempted coup by the Wagner forces. Currently, there seems to be a somewhat inconclusive ceasefire in place. While there have been reports of an agreement between the Wagner forces and […]
Support Level: 1.0840 – 1.0800 – 1.0730 Resistance Level: 1.1010 – 1.1100 – 1.1200 EUR/USD The Euro (EUR) and other assets with risk associations remain on the defensive, although EUR/USD manages to regain some balance and seems to have set sail to the 1.0900 region near the close in Wall Street on Friday. The Euro’s […]
FED/Daly: “Two interest rate increases this year are reasonable”. *Manufacturing PMI for May, which was announced today in Germany and the Euro Zone, contracted and came in at 41.0 and 43.6, respectively. Services PMI, on the other hand, showed growth by coming in at 54.1 and 52.4, respectively, although it decreased compared to the previous […]
Support Level: 1.0890 – 1.0800 – 1.0730 Resistance Level: 1.1010 – 1.1100 – 1.1200 EUR/USD After rising to new monthly highs above the important 1.1000 threshold against the US Dollar, the Euro has lost some steam and retreated to the 1.0960 area, resulting in slight losses for the day thus far. In a broader context, […]