The Bank of England (BOE) raised interest rates today… *Swiss Central Bank (SNB) raised the interest rate by 25 basis points to 1.75%, as expected, at its meeting today. In the statement, it was stated that they did not ignore the possibility of additional interest rate hikes to ensure price stability, that the SNB was […]
Support Level: 1.0890 – 1.0800 – 1.0730 Resistance Level: 1.1000 – 1.1100 – 1.1200 EUR/USD EUR/USD snaps three days of consecutive losses and raises toward the 1.0990 region as the US Fed Chair Jerome Powell answers questions at the US House of Representatives on his first day of testimony. Risk aversion, and high US Treasury […]
FED/Powell “Raising Interest Rates Considered Appropriate“ *In the UK, the Consumer Price Index (CPI) for May, announced today, exceeded the expectations and increased by 0.7% monthly and 8.7% annually. Data were expected to increase 0.5% and 8.4%. Core CPI also increased above expectations, increasing 0.8% and 7.1%, respectively. With the increase in inflation rates, the […]
Support Level: 1.0860 – 1.0800 – 1.0730 Resistance Level: 1.0970 – 1.1010 – 1.1100 EUR/USD The initial upward movement of the EUR against the USD towards the 1.0950 level has been reversed, leading EUR/USD to shift its focus towards the downside, specifically targeting the 1.0900 area. In Germany, Producer Prices experienced a monthly decline of […]
ECB/Stournaras “The End of Rate Increases Nears” *In Germany, the Producer Price Index (PPI) for May decreased by 1.4% on a monthly basis, which was below the expectations, and fell to 1.0% from 4.1% year-on-year. Data was expected to be 0.7% monthly, 1.7% annually. *European Central Bank (ECB) Member Stournaras will start, will determine the […]
Support Level: 1.0860 – 1.0800 – 1.0730 Resistance Level: 1.0970 – 1.1010 – 1.1100 EUR/USD The European currency maintains the offered stance well in place at the beginning of the week and motivates EUR/USD to recede to daily lows in the 1.0925/20 band on the back of the decent recovery in the US Dollar. Indeed, […]
ECB/Kazimir “Necessary to Raise Rates Again in July“ *In his speech on the interest rate hike process, European Central Bank (ECB) Member Kazimir said that they should increase the interest rates again in July, that stopping interest rate hikes too early is a greater risk than excessive tightening, that upside inflation risks still remain important, […]
Support Level: 1.0860 – 1.0800 – 1.0730 Resistance Level: 1.0970 – 1.1010 – 1.1100 EUR/USD EUR/USD rally stalled in the aftermath of the ECB rate hike, trimming some of its previous day’s gains amidst mixed market sentiment. Following the Fed and the ECB’s decisions, central bank speakers are grabbing the most headlines, amidst the lack […]
Inflation Rate Slowed Down in Euro Zone… * In his speech after keeping the interest rate at -0.10% level, Bank of Japan (BOE) Governor Ueda stated that there are both positive and negative effects caused by the weak Yen, the rate of decrease in prices is a little slow, and there is a lot of […]
Support Level: 1.0860 – 1.0800 – 1.0730 Resistance Level: 1.0950 – 1.1000 – 1.1100 EUR/USD The European currency now trades with marked gains and pushes EUR/USD to revisit daily highs in the 1.0950 band on Thursday. Indeed, spot sees its daily upside exacerbated after President Christine Lagarde advocated for an extra rate hike in July, […]