Non-Farm Employment Increases More Than Expected in the USA… *European Central Bank (ECB) Member Panetta said in his speech today that they have to act very quickly in raising interest rates and curb spending without adversely affecting their economic efficiency. Another ECB Member, Vasle, said the population remains high and persistent and further rate hikes […]
Support Level: 1.0630 – 1.0500 – 1.0400 Resistance Level: 1.0770 – 1.0850 – 1.0900 EUR/USD EUR/USD shifted gears after printing a weekly low of 1.0635, climbs bolstered by dovish US Fed officials’ comments, alongside soft economic data from the US. Therefore, investors looking towards a less hawkish Fed dumped the US Dollar in favour of […]
ECB Member Kazaks “Interest Rates Will Remain Peak For A Time” *The Consumer Price Index (CPI) for the month of May, announced today in the Euro Zone, remained unchanged at 0.0% on a monthly basis, but decreased from 7.0% to 6.1% on an annual basis. Core CPI, on the other hand, rose 0.2% month-on-month, rising […]
Support Level: 1.0630 – 1.0500 – 1.0400 Resistance Level: 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD stumbles past the 1.0700 mark erasing last Tuesday’s gains, and extends its fall toward the 1.0660s area after upbeat economic data from the US boosted the greenback. Earlier, EU data showed that inflation is easing, hence the EUR weakness. […]
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% […]
Support Level: 1.0670 – 1.0600 – 1.0500 Resistance Level: 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD snaps five straight days of losses, rising some 0.30% in the North American session after a tranche of EU economic data showed that inflation in some countries of the bloc appears to ease. Meanwhile, consumer confidence advances in the […]
ECB/Simkus “Expecting 25 bps rate hike” *In the Euro Area, Consumer Confidence Index for May, announced today, was -17.4, Industrial Confidence Index was -5.2 and Consumer Inflation Expectation was 12.2. The data came in at -17.5, -2.8 and 15.0 levels, respectively, in April. After the data, European Central Bank (ECB) Member Simkus said in his […]
Support Level: 1.0700 – 1.0630 – 1.0500 Resistance Level: 1.0760 – 1.0850 – 1.0900 EUR/USD After bottoming out in multi-week lows just pips above the key 1.0700 mark on Friday, EUR/USD manages to regain some composure and navigates the low-1.0700s on Monday on the back of the generalized lack of direction in the global markets. […]
President Biden is ready to take the deal to Congress… *US President Biden stated that the budget deal he will receive on Sunday, which received the 31.4 million issuance debt ceiling until January 1, 2025, after negotiations with the Speaker of the House of Representatives McCarthy, has been finalized and that the agreement is ready […]
Support Level : 1.0700 – 1.0630 – 1.0500 Resistance Level : 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD hit a 9-week low of 1.0701 on the US Dollar´s strength as expectations increased that the US Federal Reserve will deliver another rate hike. The pair bounced from there modestly and ended the day around 1.0723, flat […]