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 […]
Inflation in Germany Is Higher Than Expected… Today, we followed the Manufacturing PMI data for February in Europe. Manufacturing PMI fell from 48.8 to 48.5 in the Eurozone and from 46.5 to 45.3 in Germany, while in the UK it rose from 49.2 to 49.3. Unemployment Rate for February, another important data announced in Germany, […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0650 – 1.0700 – 1.0800 EUR/USD EUR/USD peaked at 1.0644, but turned south during the American afternoon and now hovers around 1.0590, down for the day and bearish in the daily chart. USD reverse early losses and finished the day unevenly across the FX board. Correlations […]
The GDP of Switzerland Remained Below The Expectations… GDP in Turkey for the 4th quarter, which we are watching today, grew by 0.9% quarterly and 3.5% year-on-year. In the previous quarter, the economy contracted by 0.1% on a quarterly basis and grew by 3.9% on an annual basis. In 2022, while the GDP in dollar […]
Support Level: 1.0530 – 1.0470 – 1.0350 Resistance Level: 1.0630 – 1.0700 – 1.0800 EUR/USD The EUR/USD is having so far the best day since February 1 on Monday, boosted by a weaker US Dollar across the board on the back of an improvement in risk sentiment and a retreat in Treasury yields. The pair […]
Durable Goods Orders Decreased in the US… In Turkey, the Trade Balance for January, which we are watching today, increased by 38.4% and had a deficit of 14 billion 237 million dollars. In January, Exports increased by 10.3% to 19 billion 369 million dollars, while Imports increased by 20.7% to 33 billion 606 million dollars. […]
Support Level: 1.0540 – 1.0470 – 1.0350 Resistance Level: 1.0630 – 1.0700 – 1.0800 EUR/USD The downside pressure picks up extra impulse and forces EUR/USD to print new monthly lows in the 1.0545/40 band at the end of the week. The selling momentum in EUR/USD gathers extra traction on the back of the unabated advance […]