Support Level: 0.9800 – 0.9700 – 0.9630 Resistance Level: 1.0000 – 1.0070- 1.0200 EUR/USD The EUR/USD advances sharply due to a soft US Dollar blamed on the Fed’s pivot narrative surrounding the financial markets. Also, solid US corporate earnings keep investors’ mood positive, despite the ongoing global economic slowdown. At the time of writing, the […]
Germany IFO Business Climate Survey: German Economy to Contract in the Fourth Quarter… According to the data announced by the CBRT, the real sector (manufacturing) confidence index increased by 0.4 points compared to the previous month and became 100.3 in October. When the diffusion indices of the survey questions that make up the index are […]
Support Level: 0.9800 – 0.9700 – 0.9630 Resistance Level: 0.9900 – 1.0000- 1.0080 EUR/USD The EUR/USD makes a U-turn, pairing some of its earlier losses, amidst a critical week for the Euro, with the European Central Bank (ECB) monetary policy meeting on Thursday. The shared currency recovery is due to some US data reporting S&P […]
Leading Manufacturing and Services PMI Figures in the Euro Zone and the UK Indicate the Deepening of the Contraction in the Sectors… In the Eurozone and Germany, the largest economic power in the region, the leading S&P Global Manufacturing and services PMI surveys in October indicated that the situation in both sectors worsened and the […]
Support Level: 0.9700 – 0.9630 – 0.9530 Resistance Level: 0.9875 – 1.0000- 1.0080 EUR/USD The US Dollar tumbled as traders braced for the weekend following a volatile session that initially witnessed the EURUSD hitting its daily lows of around 0.9704. Still, news that the Federal Reserve (Fed) officials will slow the rhythm of rate hikes […]
Fitch “Rising Interest Rates and Strong Dollar Hit the World Economy” Retail Sales in the UK, which we follow today, decreased more than expected and came in at -1.4% monthly and -6.9% year on year. Data was expected to decrease by -0.5% monthly and -5.0% annually. Core Retail Sales decreased by 1.5% and 6.2%, respectively. […]
Support Level: 0.9740 – 0.9630 – 0.9530 Resistance Level: 0.9875 – 1.0000- 1.0080 EUR/USD EUR/USD renews its intraday high around 0.9845 amid the fresh decline in the US dollar. In doing so, the quote pares the previous day’s losses, the biggest in two weeks, amid an absence of major data/events. The pair trimmed the gains […]
CBRT Lowered Interest Rate More Than Expected… In his statement after the USDJPY parity rose to the level of 150.08, Japanese Finance Minister said that they would not tolerate speculative movements, that they would continue to monitor exchange rate movements carefully, and that they would take action against speculative, extreme and sudden movements. Deputy Minister […]
Support Level: 0.9750 – 0.9700 – 0.9630 Resistance Level: 0.9800 – 0.9875- 1.0000 EUR/USD EUR/USD snaps two days of gains, tumbles below 0.9800, after Eurozone (EU) inflation remained elevated, while the US housing market continues to feel the “pain” of higher interest rates, which would continue to increase, as reiterated by Fed speakers. The pair […]
Euro Zone, UK and Canada Inflation Figures Followed… Inflation rates in the UK, which we follow today, increased above expectations. Consumer Price Index (CPI) came in at 0.5% monthly and 10.1% annually. After this increase, the Consumer Price Index reached its highest level in the last 40 years on an annual basis. Inflation in the […]