Support Level: 1.0830 – 1.0710 – 1.0630 Resistance Level: 1.0950 – 1.1005 – 1.1055 EUR/USD The single currency regains some balance and motivates EUR/USD to rebound from recent multi-week lows near 1.0850, but still unable to recover 1.0900 level and ended the day around 1.0880. In the docket, the European Commission released its updated forecasts […]
FED/Bostic “No Rate Cut Until 2024“ * In the statement made by the People’s Bank of China (PBOC) on monetary policy today, it was stated that interest rates will be kept reasonable and appropriate, prudent monetary policy will be firm and firm, liquidity will be reasonably plentiful and the Yuan exchange rate will be basically […]
Support Level: 1.0830 – 1.0710 – 1.0630 Resistance Level: 1.0950 – 1.1005 – 1.1055 EUR/USD The EUR/USD is falling on Friday, the fourth time in the last five days, extending its weekly losses. The pair is hovering near 1.0850, at the lowest level in a month, consolidating a weekly loss of more than 150 pips. […]
Support Level: 1.0900 – 1.0830 – 1.0710 Resistance Level: 1.0950 – 1.1005 – 1.1055 EUR/USD EUR/USD faces renewed downside pressure in response to the resurgence of the risk aversion and the consequent investors’ move towards the greenback. The selling pressure gathers impulse and flirts with the area of 4-week lows near 1.0900 on Thursday. EUR/USD […]
US PPI and UK’s Interest Rate Cut Are On The Agenda… * The Bank of England’s policy decision announced today came in the direction of a 25 basis point increase in interest rates in line with the expectations and increased the interest rate to 4.5%. The decision was passed by 2 votes to 7. *Bank […]
Support Level: 1.0910 – 1.0830 – 1.0710 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD EUR/USD rallied on the back of the US Consumer Price Index and reached a high of 1.1006 on the day from a low of 1.0941. It trimmed some gains and trading around 1.0980 at the end of US session. Headline […]
We’ll See if US Inflation Relieves the FED! * The US inflation, announced at 15.30 today, was surprisingly at 4.9% on the headline side. The fact that food inflation remained stable at 0% was recorded as one of the important factors that lowered annual headline inflation. *The continuation of the fall in headline inflation brought […]
Support Level: 1.0910 – 1.0830 – 1.0710 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD The EUR/USD extends its losses on Tuesday past the 1.10 handle, briefly testing last week’s low of 1.0942, but bounced off that price level, above the 1.0950 area. Worries about the US debt ceiling, and a strong US Dollar, weakened […]
Inflation and Policy Statements From ECB Members Are On The Agenda… *The Minister of Energy of the United Arab Emirates stated that they are not worried in the oil market for the short term and that they can balance the supply/demand relationship. There are still concerns for the long term, so it is said that […]
Support Level: 1.0910 – 1.0830 – 1.0710 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD The EUR/USD retreated from daily highs, hitting 1.1053 as the European session ended. The latest week, we have witnessed the US Fed and the ECB increasing rates by 25 bps, though divergence would likely favour the latter. Hence, the EUR/USD […]