ECB President Lagarde’s Hawk Tone Marks The Day… As expected, the Swiss National Bank (SNB) increased the policy rate by 50 basis points from 0.50% to 1.00%. Thus, the Bank increased interest rates for the third time in a row, achieving a total increase of 175 basis points this year. In the statement, it was […]
Support Level: 1.0600 – 1.0540 – 1.0500 Resistance Level: 1.0700 – 1.0780- 1.0940 EUR/USD The EUR/USD dropped toward 1.0620s after the Fed raised rates by 50 bps. However, it recovered all the losses after Fed Chair Powell’s speech and ended Wednesday at around 1.0680, still bullish in the daily chart. The FOMC decided to hike […]
We are waiting for the last FED meeting of the year… Inflation figures announced on Tuesday fed the moves against the US dollar before the Fed meeting. The US consumer price index rose 0.1% in November, slower than economists expected, and the headline CPI rose 7.1% in the 12 months to November – the slowest […]
Support Level: 1.0600 – 1.0540 – 1.0500 Resistance Level: 1.0670 – 1.0780- 1.0940 EUR/USD EUR/USD has rallied heavily as the US Consumer Price Index has come in below expectations, leaving the door wide open for a pivot from the Federal Reserve that meets this week to decide on its monetary policy path. At the time […]
“Soft Landing” Expectations Increased After US Inflation… “Soft Landing” Expectations Increased After US Inflation… Before the FED meeting decisions to be announced tomorrow, we followed the November inflation data from the USA at 16.30 (GMT+3) today. The data came as follows. USA – Consumer Price Index (November) (monthly): 0.1% (Exp: 0.3% ; Previous: 0.4%) USA […]
Support Level: 1.0430 – 1.0390 – 1.0290 Resistance Level: 1.0600 – 1.0700- 1.0800 EUR/USD The Euro registers solid gains against the US Dollar on Monday, during the North American session, courtesy of overall US Dollar weakness.At the time of writing, the EUR/USD is trading at 1.0535, still bullish in the daily chart. Sentiment remains upbeat, […]
British Economy Outperformed Expectations in October… The UK economy grew by 0.5% on a monthly basis in October, slightly above the expectation of 0.4%. In the three-month period up to October, it contracted by -0.3%, contrary to the expectation of -0.4% contraction. Manufacturing and industrial production figures for October also came in better than expected. […]
Support Level: 1.0430 – 1.0390 – 1.0290 Resistance Level: 1.0600 – 1.0700- 1.0800 EUR/USD Despite a knee-jerk mid-week, the EUR/USD pair is comfortably trading above the 1.0500 threshold, seesawing around 1.0530 following the release of the December University of Michigan’s Consumer Confidence Index, which rose by more than anticipated, to 59.1 from 56.8 in November. […]
Producer Price Inflation Increased More Than Expected in the USA… Producer price inflation in the USA, although it increased below the previous period on an annual basis in November, came above the expectations. (Annual) (Nov) Announced: 7.4% Expected: 7.2% Previous: 8.0% (Monthly) (Nov) Announced: 0.3% Expected: 0.2% Previous: 0.2% Core inflation came in above expectations. […]
Support Level: 1.0430 – 1.0390 – 1.0290 Resistance Level: 1.0600 – 1.0700- 1.0800 EUR/USD EUR/USD is firmly higher on Thursday due to diminishing expectations for the Federal Reserve (Fed) to keep raising interest rates at the same aggressive pace. EUR/USD is currently 0.38% higher having rallied from a low of 1.0489 to a high of […]