Fed Bullard ‘Can Raise Rates Another 50 Bp’ * Minneapolis Fed Chairman Kashkari said today on the interest rate hike process, that there is a desire to increase interest rates or close to a pause at the June meeting, that they should protect the economy from debt default and that they are likely to go […]
Support Level: 1.0710 – 1.0630 – 1.0500 Resistance Level: 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD rebounds from its weekly lows, reclaiming near the 1.0800 figure following US Federal Reserve Jerome Powell’s remarks, in which he opened the door for a pause on the Federal Reserve tightening cycle. In addition, a risk-on impulse dented an […]
Support Level: 1.0710 – 1.0630 – 1.0500 Resistance Level: 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD is attempting to correct the heavy selling that has taken place over the course of several days. EUR/USD is currently trading at 1.0773 and is down some 0.66%, traveling between a low of 1.0762 and 1.0848 the high. No […]
FED/Logan “Data Doesn’t Support Skipping Rates“ *Weekly Unemployment Benefit Applications, which we tracked in the USA, came in at the level of 242 thousand people, below the expectations. The data was expected to come at the level of 254 thousand. Philadelphia Fed Business Index, another important data announced at the same time, came in at […]
Support Level: 1.0810 – 1.0710 – 1.0630 Resistance Level: 1.0900 – 1.0950 – 1.1000 EUR/USD Sellers remain in control of the sentiment around the European currency – and the risk complex in general – and now drag EUR/USD to new lows in the vicinity of 1.0810 on Wednesday. The persevering risk aversion continues to underpin […]
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: 1.0830 – 1.0710 – 1.0630 Resistance Level: 1.0950 – 1.1005 – 1.1055 EUR/USD EUR/USD rapidly abandons the area of daily highs around 1.0900 in response to the sudden bout of strength in the dollar following the release of US Retail Sales. US Retail Sales expanded at a monthly 0.4% in April, coming in […]
Speaker of the US House of Representatives “No Progress in Debt Ceiling Talks” The Unemployment Rate for March in the UK, announced today, rose from 3.8% to 3.9%. While 182 thousand people were employed in March, the number of unemployed increased by 46,700. The GDP that we tracked for the first quarter in the Euro Area […]
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 […]