Support Level: 1.0960 – 1.0900 – 1.0830 Resistance Level: 1.1070 – 1.1180 – 1.1250 EUR/USD EUR/USD dropped below the 1.1000 figure as risk aversion took centre stage in Tuesday’s session. Successive reports that the economy in the US is decelerating, and reignited fears of March’s banking crisis, triggered a flight to safety. Therefore, the EUR/USD […]
ECB/Villeroy, “Inflation Will Probably Drop To 2% By The End Of 2024.” *Swiss Trade Balance posted a surplus of CHF 4.53 billion (Swiss francs) in March, surpassing the expectations of CHF 3.49 billion. *US President Joe Biden announced that he will run again in the 2024 elections. *Broadbent of the Bank of England (BOE), “if […]
Support Level: 1.1000 – 1.0900 – 1.0830 Resistance Level: 1.1070 – 1.1180 – 1.1250 EUR/USD EUR/USD manages to reverse the initial pessimism and advances to fresh peaks past the psychological 1.1000 the figure in an auspicious beginning of the week. EUR/USD clinches the third consecutive daily gain on the back of the continuation of the […]
Capacity Utilization Rate and Manufacturing Confidence Increased in April… *In the Ifo business confidence data released in Germany, the Business Climate Index rose to 93.6 with an increase of 0.4 compared to the previous month, even though it was below the expectation of 94 in April. Operating Expectations rose to 92.2 from 91, beating expectations […]
Support Level: 1.0900 – 1.0830 – 1.0780 Resistance Level: 1.1000 – 1.1070 – 1.1180 EUR/USD The EUR/USD prepares to finish the week on a higher note, though it remains below the 1.1000 figure, albeit economic data from the US bolstered the USD. However, late into the Wall Street close, the greenback lost strength, US equities […]
Support Level: 1.0900 – 1.0830 – 1.0780 Resistance Level: 1.1000 – 1.1070 – 1.1180 EUR/USD EUR/USD advances, trimming some of its Wednesday’s losses after data from the United States displays further economic deterioration, which reignited recession fears. Hence, investors seeking safety bought the Euro to the detriment of the US Dollar. The EUR/USD trades at […]
Decline in Philly Manufacturing Data in the USA Eases the Dollar Again… * While the Philly FED Manufacturing Index, which came in at 15.30 during the day, fell from -23.2 to -31.3, we see that the US Dollar weakened a little in the face of this weak data. Markets continue to see the probability of […]
Support Level: 1.0900 – 1.0830 – 1.0780 Resistance Level: 1.1000 – 1.1070 – 1.1180 EUR/USD EUR/USD creeps lower in the mid-North American session as the financial markets are in a risk-off mode, expecting the next round of data that could rock the boat and give a clear direction to the pair. Inflation data in the […]
Dollar Index In An Effort To Recuperate… *We saw double-digit data again in the UK inflation, which was announced in the morning hours. Headline inflation was 10.1% year-on-year, while core inflation was 6.2% year-on-year. Especially if we look at the core inflation side, price increases are still evident. UK headline annual inflation remains in double […]
Support Level: 1.0900 – 1.0830 – 1.0780 Resistance Level: 1.1000 – 1.1070 – 1.1180 EUR/USD EUR/USD snaps two days of consecutive losses and climbs, and seesaws around the 1.0950 figure, spurred by falling US Treasury bond yields and broad American Dollar weakness. Hence, the EUR/USD is trading at 1.0973 after hitting a low of 1.0920. […]