ECB/Lagarde “We Are Not Considering Stopping Rate Increases“ * The European Central Bank (ECB) raised the policy rate by 25 basis points to 4.00% at its meeting today. In the statement made, it was stated that inflation is expected to be 5.4% and core inflation is 5.1% in 2023, core inflation indicators continue to be […]
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, […]
FED Will Announce Interest Rate… *The UK GDP for April, announced today, grew by 0.1% on a quarterly basis and 0.5% on an annual basis. The data was expected to come in at -0.1% and 0.6%, respectively. Construction Production, which increased by 3.6%, gave the largest contribution to the GDP growth, while Industrial Production, which […]
Inflation Rate Decreased in the USA… *The Employment Change for April in the UK, announced today, increased by 250 thousand, exceeding the expectation of 150 thousand. The number of unemployed decreased by 13,600 people. After these data, the Unemployment Rate decreased from 3.9% to 3.8%. *The Zew Economic Index for June, which was announced today […]
Support Level: 1.0730 – 1.0630 – 1.0500 Resistance Level: 1.0830 – 1.0900 – 1.1000 EUR/USD The Euro finds demand on Tuesday as investors adjust their positions while preparing for the highly-anticipated central bank policy announcements. The EUR/USD pair gathered bullish momentum and climbed above 1.0800 for the first time in three weeks. The Euro’s performance […]
Support Level: 1.0630 – 1.0500 – 1.0400 Resistance Level: 1.0790 – 1.0850 – 1.0900 EUR/USD EUR/USD pares some of its earlier gains, still trading in a positive territory amidst a busy week in the economic agenda, with major central banks set to adjust their monetary policies. The US Dollar strengthened ahead of Wednesday’s Fed decision […]
BOE Member Haskel: Inflation momentum should be monitored… *In his speech today, Bank of England (BOE) Member Haskel said that they closely monitor the indicators and resilience of inflation momentum, that further rate hikes cannot be ignored and it is important that they continue to withstand the risks of inflation momentum. Agenda of the day;18:30 […]
Support Level: 1.0630 – 1.0500 – 1.0400 Resistance Level: 1.0790 – 1.0850 – 1.0900 EUR/USD EUR/USD reversed its course after Thursday’s jobs report in the US justified the Fed view for skipping a rate hike. Additionally, recent data from Canada pointed to a softening labor market, atoning with recent unemployment claims in the US. The […]
Support Level: 1.0630 – 1.0500 – 1.0400 Resistance Level: 1.0790 – 1.0850 – 1.0900 EUR/USD EUR/USD soars sharply past the 1.0750 area on Thursday after less stellar jobs data in the United States (US) weakened the US Dollar. That said, the EUR/USD is trading at around 1.0770s after hitting a daily low of 1.0692 Before […]
Sudden Rises in EURUSD Parity… * Applications for unemployment benefits in the USA increased more than expected last week. While expectations were for an increase of 253,000, 261,000 applications were received. After the announced data, there were sudden increases in the EURUSD parity. Account Opening Open A Demo CDO has wide range of tools, professional […]