Support Level: 1.0510 – 1.0440 – 1.0300 Resistance Level: 1.0630 – 1.0700 – 1.0760 EUR/USD The EUR/USD is falling sharply on Wednesday and recently printed a fresh two-month low at 1.0521. It is hovering around 1.0580, after testing a critical level. The US Dollar rocketed as markets tumbled on banking concerns. Economic data from the […]
After the Banking Crisis in the USA, Credit Suisse Created Panic in the Markets… The European Central Bank (ECB) will announce its interest rate decision at 16:15(GMT+3) tomorrow. After the decision, ECB President Lagarde will make a statement at 16:45(GMT+3). The ECB is expected to raise interest rates by 50 basis points. Industrial production data […]
Support Level: 1.0650 – 1.0530 – 1.0470 Resistance Level: 1.0800 – 1.0900 – 1.1000 EUR/USD EUR/USD currency pair trades consolidated in the familiar range after Tuesday’s US CPI data release. However, the losses remain limited as market participants assess the inflation data’s implications on the Fed’s monetary policy. As of writing, the EUR/USD is up […]
US Consumer Inflation Increases 0.4% Monthly, 6.0% Annually… The US Federal Reserve (FED) has launched an investigation into whether the Bank of Silicon Valley (SVB) has gone bankrupt and has caused concerns in the banking system, whether it has fulfilled its oversight and operational responsibilities. Fed Chairman Powell said a comprehensive, transparent and rapid review […]
Support Level: 1.0650 – 1.0530 – 1.0470 Resistance Level: 1.0800 – 1.0900 – 1.1000 EUR/USD EUR/USD is up by over 0.9% in midday trade on Wall Street aided by a weaker US Dollar and ahead of the European Central Bank’s policy meeting on Thursday. Expectations call for the ECB to deliver a 50-basis point hike […]
FED Interest Rate Expectations Changed After the Banking Crisis in the USA… *After consecutive bank failures in the USA, there was a rapid retraction in the treasury bond yields. While 2-years decreased to 3.99%, 10-years decreased to 3.41%. *The Bank of England announced that the UK units of Silicon Valley Bank, which was declared bankrupt […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD The EUR/USD rose 0.45% late in the New York session in a volatile trading day, with Wall Street set to register substantial losses blamed on a US bank collapse. That overshadowed an awaited US jobs report, scrutinized by investors as […]
US Employment Market Continues to Maintain Its Strength… The expected data of the week came today at 16.30(GMT+3). Let’s look at the details in the US Non-Farm Employment Report; Change in Non-Farm Employment: 311,000 (Previous: 504,000) Unemployment Rate: 3.6% (Previous: 3.4%) Average Hourly Earnings (monthly): 0.2% (Previous: 0.3%) Average Hourly Earnings (annual): 4.6% (Previous: 0.3%) […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD EUR/USD is under making ground on Thursday and has moved up from a low of 1.0536 to score a corrective high of 1.0591 so far in the New York session ahead of the key US Nonfarm Payrolls on Friday. European […]
US Yield Curve Historically Negative… *The U.S. yield curve displays a strongly negative image, which is rare in history. The difference between the 2-year and 10-year bond yields rose to 104 basis points. This keeps recession concerns alive in the US. Despite this divergence, US futures stock indexes do not fall sharply. On this side, […]