Support Level: 0.9800 – 0.9700 – 0.9630 Resistance Level: 0.9875 – 1.0000 – 1.0100 EUR/USD Eurodollar’s recovery from last week’s lows at 0.9635 has lost steam right below 0.9900 and the pair pulled back to 0.9850 on Tuesday’s afternoon US Trading session. The euro, however, remains moderately positive on the daily chart. The common currency […]
ECB Member Herodotou “Absolutely Need to Raise Interest Rates” Zew Economic Confidence for October in Germany and the Euro Zone came in above expectations in the Index announced today. The index came in at -59.2 in Germany and -59.7 in the Eurozone. The data was estimated to come in at -65.7 and -61.2, respectively. In […]
Support Level: 0.9700 – 0.9630 – 0.9530 Resistance Level: 0.9850 – 0.9920 – 1.0000 EUR/USD The common currency has shrugged off the weakness observed last week to rally on Monday, amid an improved sentiment. The euro appreciates more than 1% so far today bouncing up at 0.9720 area to hit session highs at 0.9852, neutral […]
FED Manufacturing Index Shrinks in the USA… In his speech today, European Central Bank (ECB) Member Rehn said that they know that inflation is very high and that they should act accordingly by tightening their monetary policy. Another ECB Member, Nagel, said that interest rate hikes should continue after October and that inflation has upside […]
Support Level: 0.9630 – 0.9530 – 0.9450 Resistance Level: 0.9820 – 0.9920 – 1.0000 EUR/USD The EUR/USD losses its grip around and edges lower as the North American session progresses, amidst a firm US dollar, following the release of a US hot inflation report on Thursday, while mixed US economic data, and hawkish Fed commentary, […]
Trends in the Market Continue… In the inflation figures announced in the morning on the Chinese side, the CPI data was 0.3% monthly and 2.8% annually, while the PPI side was announced as 0.9%. While there was an increase in CPI on the annual side, there was a decrease in PPI. European Central Bank President […]
Support Level: 0.9630 – 0.9530 – 0.9450 Resistance Level: 0.9820 – 0.9920 – 1.0000 EUR/USD The EUR/USD is recovering from earlier losses as inflation in the United States rose above estimates, continuing to test Fed members’ patience. Core CPI in the US jumped to a four-decade high, exceeding forecasts, cementing the case for further Fed […]
Core Inflation Continues to Worry in the US… In the September inflation data announced in the USA, both headline and core inflation came in above expectations. Especially on the Core Inflation side, there is a strong monthly and annual increase, showing that inflation is sticky. USA – CPI (MoM) 0.4% (Previous: 0.1%) US – CPI […]
Support Level: 0.9670 – 0.9630 – 0.9530 Resistance Level: 0.9820 – 0.9920 – 1.0000 EUR/USD The common currency remains on the back foot on Wednesday and is on track to complete a six-day reversal against the US dollar. The pair has turned lower from the 0.9700 area despite ECB Lagarde’s comments. The President of the […]
PPI Data in the USA Made Tomorrow’s CPI Even More Important! We welcomed the day with the UK’s economic growth and industrial production data. In the UK, economic growth continues to weaken on a monthly and annual basis. It was -0.3% monthly and 2% annually. We also saw negative changes in Industry and Manufacturing production […]