How Was The Market After Powell? The market continues to move in favor of the dollar in general, after Fed Chairman Powell’s hawkish tone-enhancing statements last night. While the parity is trying to seek support at 1.0530, where it declined rapidly yesterday, the Ounce Gold side is at 1810 levels. After yesterday’s announcements, it is […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD EUR/USD keeps falling as we move into late US trade in what has been a maximum drop in the single currency following uber-hawkish rhetoric from the Federal Reserve’s chairman on Tuesday who testified to Congress. The pair ended the day […]
Coming Towards Evening, The Powell Hour Is About To Begin… We will follow Powell’s statements in the Senate presentation after 18.00 CEST. While the market is pricing the probability of the Fed’s interest rate hike by 25 basis points on March 22 as 75%, the probability of 22% is 50 basis points. We will carefully […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD The EUR/USD is up on Monday, moving toward last week’s high and with 1.0700 again on the radar. A stronger Euro across the board has been supportive of the pair, while at the same time, the US Dollar weakened. EUR/USD […]
Attention will be focused on the Bond Market and Disclosures…. This week, eyes will be on the bond market. The US 10-year bond yield, which had risen to 4.08% last week, dropped on the last trading day of the week. On the first trading day of the new week, the slight decline continues and declined […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD EUR/USD reversed its course and is set to finish the week with gains of more than 0.80% on a softer USD amidst speculations that the US Fed would not hike rates beyond what money market futures expect. The EUR/USD exchanges […]
Services PMI data for February in the Euro Area showed growth compared to the previous month *The Services PMI data for February, which we follow today in the Euro Zone and Germany, showed a growth compared to the previous month, although it fell short of expectations. The Services PMI rose from 50.8 to 52.7 in […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD The EUR/USD loses traction in the mid-North American session and trades below its opening price by 0.83%, below the 1.0600 mark. Reasons like unemployment claims in the US easing triggered investors’ reaction, that perhaps their inflation view is wrong, sending […]
ECB President Lagarde: “50 basis point rate increase on the table” European Central Bank (ECB) President Lagarde, in her speech today, said that a 50 basis point increase in interest rates in March is on the table because inflation is still high, they should use all the tools at their disposal to reduce inflation, they […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0700 – 1.0800 – 1.0900 EUR/USD The EUR/USD retreated after the release of the ISM Manufacturing PMI that boosted, at least momentarily, the US Dollar across the board. The pair pulled back from 1.0691, the highest level in a week to 1.0660. Data released in the […]