Support Level: 1.0960 – 1.0900 – 1.0830 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD The EUR/USD dropped below 1.1000 after the ISM announced that manufacturing activity in April improved. However, it stood in contractionary territory, while a measure of inflation in the same data increased. Therefore, speculations for further tightening by the Fed underpinned […]
While Europe and the UK were Closed, US Manufacturing PMI Was On The Agenda… * It has been announced that First Republic, one of the 3 important banks that went bankrupt in recent months, will be acquired by JP Morgan. *Expectations for the Fed’s interest rate decisions on Wednesday, May 3 and the ECB on […]
Support Level: 1.0960 – 1.0900 – 1.0830 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD The EUR/USD recovered from earlier losses that dragged the pair towards its daily low of 1.0962 and is trading at around the 1.1020s area after inflation in the US proved to be stickier than expected, warranting further tightening by the […]
Important Data Announced in the Euro Zone, Germany and the USA… *Gross domestic product (GDP) in Germany was expected to grow by 0.3% in the first quarter, while a contraction of -0.1% was recorded. A growth of 0.2% was recorded compared to the same quarter of the previous year, and the growth expectation of 0.8% […]
Support Level: 1.0960 – 1.0900 – 1.0830 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD EUR/USD fades the initial upbeat mood and retreats to the boundaries of 1.1000 the figure on the back of the marked bounce in the Greenback on Thursday. The move lower in the pair came soon after advanced US GDP Growth […]
CBRT Didn’t Change Its Policy Rate Decision… *In the Euro Area, service sector confidence increased from 9.6 to 10.5, while industrial sector confidence decreased from -0.5 to -2.6. * It was announced that the US economy achieved 1.1% economic growth in the 1st quarter of 2023, resulting in a growth rate below the 2% growth […]
Support Level: 1.0960 – 1.0900 – 1.0830 Resistance Level: 1.1100 – 1.1180 – 1.1250 EUR/USD The Euro has made new 2023 highs against the US Dollar during the US session, on Wednesday, after an upbeat Wall Street open put paid to lingering recession fears, reducing safe-haven demand for USD. Therefore, the EUR/USD pair is trading […]
US Trade Deficit Decreased, Durable Goods Orders Increased… *Durable Goods Orders in the US came in at 0.3% in March versus negative expectations of -0.2%. The data was announced as -0.3% last month. Core Durable Goods Orders came in at 3.2%, above the 0.7% expectation. The data was announced as -1.2% last month. * In […]
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 […]