Support Level: 1.0600 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0930 EUR/USD EUR/USD continued the decline post FOMC Minutes. The price dropped from intraday high 1.0664 to low 1.0599 due to US dollar strength. It ended the day near the bottom and bearish in the daily chart. The US Dollar maintained its […]
FOMC Meeting Minutes to be Announced… *FED FOMC Member Bullard said in his speech that the FED would have to increase the interest rate above 5% to stop inflation, that they thought they could pull inflation down while maintaining a strong labor market, that the markets may have overpriced the risk of recession in 2023, […]
Support Level: 1.0610 – 1.0470 – 1.0350 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD extends its bearish continuation after Monday’s gains, offset by the US Dollar (USD), were sponsored by a risk-off impulse, despite upbeat data revealed in the Euro area. Nevertheless, US PMIs showed after Wall Street’s opening justified US Dollar strength, […]
While the Manufacturing Sector Shrinks in the Euro Zone, the Service Sector Grows… In Germany, the Manufacturing PMI for February, announced today, dropped to 46.5 from 47.3, while the Services PMI rose to 51.3 from 50.7. Likewise, in the Euro Area, Manufacturing PMI fell from 48.8 to 48.5, while Services PMI rose to 53.3 from […]
Support Level: 1.0610 – 1.0470 – 1.0350 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD trades without direction in the sub-1.0700 region at the beginning of the week due to US President holiday. Presidents’ Day has delivered a slow morning for markets, albeit one with a slight positive bias to Asian and European equities, […]
Consumer Confidence In The German Economy Slightly Increased In 2023… Since US markets were closed today, data traffic was very low and market volatility remains low. While EURUSD parity continues to stay above 1.0655 that it tested last Friday, Ounce Gold is at 1846 levels. The US 10-year Treasury yield is at 3.81%. Construction Production […]
Support Level: 1.0610 – 1.0470 – 1.0350 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD drops to multi-week lows in the 1.0610 region at the end of the week, it then trimmed all the losses and ended the day near 1.0700, still bearish in the daily chart. The pair saw its losses accelerate in […]
ECB’s Statements Are Falcon, But The Dollar Market Is Tightening Again… According to the Central Bank of the Republic of Turkey (CBRT) Market Participants Survey, the year-end inflation expectation rose to 35.76% in February. The expectation in January was 32.46%. According to the data of the Turkish Statistical Institute (TUIK), house sales in January increased […]
Support Level: 1.0650 – 1.0580 – 1.0480 Resistance Level: 1.0800 – 1.0930 – 1.1000 EUR/USD EUR/USD extends the multi-session consolidative phase around the 1.0700 neighbourhood so far on Thursday. EUR/USD now extends the selling pressure seen in the previous session in response to another bullish attempt in the greenback. Indeed, the pair revisited the area […]
Strong PPI Data in the USA Reinforced the FED’s Rate Increase Signals… Producer Price Index (PPI) data in the USA came in above expectations. PPI increased by 0.7% in January, above the expectations of 0.4%. Compared to the same period of the previous year, it increased by 6.0%, above the 5.4% expectation. Core PPI, on […]