Discussions on Debt Limit in the USA Continue… *In the Euro Area, the Consumer Price Index announced for April increased by 0.6% on a monthly basis and by 7.0% on an annual basis. Data was expected to increase 0.6% monthly and 7.0% annually. Core CPI, on the other hand, came in as expected, increasing 1.0% […]
Support Level: 1.0670 – 1.0600 – 1.0500 Resistance Level: 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD snaps five straight days of losses, rising some 0.30% in the North American session after a tranche of EU economic data showed that inflation in some countries of the bloc appears to ease. Meanwhile, consumer confidence advances in the […]
ECB/Simkus “Expecting 25 bps rate hike” *In the Euro Area, Consumer Confidence Index for May, announced today, was -17.4, Industrial Confidence Index was -5.2 and Consumer Inflation Expectation was 12.2. The data came in at -17.5, -2.8 and 15.0 levels, respectively, in April. After the data, European Central Bank (ECB) Member Simkus said in his […]
Support Level: 1.0700 – 1.0630 – 1.0500 Resistance Level: 1.0760 – 1.0850 – 1.0900 EUR/USD After bottoming out in multi-week lows just pips above the key 1.0700 mark on Friday, EUR/USD manages to regain some composure and navigates the low-1.0700s on Monday on the back of the generalized lack of direction in the global markets. […]
President Biden is ready to take the deal to Congress… *US President Biden stated that the budget deal he will receive on Sunday, which received the 31.4 million issuance debt ceiling until January 1, 2025, after negotiations with the Speaker of the House of Representatives McCarthy, has been finalized and that the agreement is ready […]
Support Level : 1.0700 – 1.0630 – 1.0500 Resistance Level : 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD hit a 9-week low of 1.0701 on the US Dollar´s strength as expectations increased that the US Federal Reserve will deliver another rate hike. The pair bounced from there modestly and ended the day around 1.0723, flat […]
US President Biden “Progress Made in Debt Talks” *Retail Sales in the UK for April, announced today, increased 0.5% month on month, decreased 3.0% year on year. The data was expected to come in at 0.3% and -2.8%, respectively. Core Retail Sales, on the other hand, increased 0.8% month on month and decreased 2.6% year-on-year. […]
Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0760 – 1.0850 – 1.0900 EUR/USD EUR/USD continued to fall for three straight days and reached a new two-month low of 1.0707, as the greenback remains strengthening across the FX board. Uncertainty around the US debt-ceiling discussions and upbeat US economic data bolstered the […]
Strong US Data Triggers Hawk Tone in Market… *The first quarter GDP in the USA, which we are watching today, grew by 1.3%, exceeding the expectations. The economy was expected to grow by 1.1%. Weekly Unemployment Pension Applications, another important data announced at the same time, increased less than expected and came in at the […]
Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD is mixed on the Federal Open Market Committee minutes that show the board members agreed that inflation risks are still unacceptably high but officials also generally agreed that the extent of further hikes are less certain. EUR/USD […]