European Central Bank President Lagarde: We Can Raise Interest Rates Until We Reach Inflation Target… European Central Bank President Christine Lagarde, in her speech at the conference she attended, said, “We expect interest rates to increase further. Withdrawal of monetary supports may not be enough. Interest rates are and will continue to be the main […]
Support Level: 1.0270 – 1.0200 – 1.0100 Resistance Level: 1.0480 – 1.0600- 1.0700 EUR/USD EURUSD is battling back, down some 0.5% still, however, having fallen from a high of 1.0406 to a low of 1.0305. US Treasury yields increased on Thursday as investors bet on a relatively hawkish Federal Reserve. The greenback was pressured in […]
Headline Inflation High in Euro Zone, But Slightly Below Expectations… *Even though the inflation in the Euro Area increased from 9.9% to 10.6% on an annual basis in October, it remained below the data market expectation of 10.7%. On a monthly basis, consumer inflation increased by 1.5%. *Eurozone Core inflation increased in line with expectations.-Core […]
Support Level: 1.0270 – 1.0200 – 1.0100 Resistance Level: 1.0480 – 1.0600- 1.0700 EUR/USD ØThe EURUSD extends its gains for the second consecutive day but struggles to hurdle 1.0440 and retraces. The release of an upbeat Retail Sales report for the United States capped the Euro (EUR) gains, as the major slid below 1.0400. At […]
UK Inflation Hits 41-Year High in October… In the UK, consumer inflation increased by 11.1% on an annual basis in October, above the expectations of 10.7%. On a monthly basis, inflation increased by 2.0%. Core inflation and producer inflation also exceeded expectations in the country. -Core Consumer Price Index (CPI) (Annual) Announced:6.5% Expected:6.4% Previous:6.5% -Core CPI (Monthly) (Monthly) […]
Support Level: 1.0270 – 1.0200 – 1.0100 Resistance Level: 1.0480 – 1.0600- 1.0700 EUR/USD The EURUSD is climbing in the North American session, though it remains beneath the highs of the day at 1.0481, reached on the release of a softer-than-expected Producer Price Index (PPI) for the United States. At the time of writing, the […]
A Brutal Day For The Dollar… Today is once again a brutal day for the US Dollar, which is down over 1% against currencies such as the Euro, Sterling, Aussie (Australian Dollar) and Kiwi (New Zealand Dollar). The post-CPI rally continues in global stock markets, and this situation puts pressure on the Dollar. US 10-year […]
Support Level: 1.0270 – 1.0200 – 1.0100 Resistance Level: 1.0370 – 1.0500- 1.0600 EUR/USD The EURUSD pair erased intraday losses after climbing back to the 1.0350 zone. Earlier the pair bottomed at 1.0270 but then the Greenback lost momentum across the board, triggering the rebound. The Dollar pulled back during the American session even as […]
The First Day of the Week Watched Calmly… Global markets started the new week calmly and close to last week’s closing levels, but there is a slight recovery trend on the US Dollar side as of midday. EURUSD parity declined slightly from 1.0365 resistance. Ounce Gold declined slightly from 1722 resistance and the US 10-year […]
Support Level: 1.0200 – 1.0100 – 0.9930 Resistance Level: 1.0370 – 1.0500- 1.0600 EUR/USD The Euro finished the week on a higher note, following the release of a soft inflation report in the United States, as informed by the Department of Labor October’s CPI report. Therefore, the Euro continued its advance, as the EURUSD gained […]