FOMC Meeting Minutes to be Announced… *In the UK, the Consumer Price Index (CPI) for April, which was announced today, exceeded the expectations and increased by 1.2% monthly and 8.7% annually. Data were expected to increase by 0.8% and 8.2%, respectively. The previous data showed an increase of 0.8% monthly and 10.1% annually. Core CPI, […]
Support Level : 1.0710 – 1.0630 – 1.0500 Resistance Level : 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD maintains its bearish tone on Tuesday, seeing its decline accelerate to the 1.0760 area as the dollar continues to face upward pressure, while unease over the US debt ceiling continues to weigh on sentiment. Meanwhile, talks over […]
Debt Ceiling Talks in the USA Start Again Today… *In the Euro Area, the Manufacturing PMI for May, which was announced today, decreased from 45.8 to 44.6, and the Services PMI from 56.2 to 55.9. The data was expected to come at 46 and 55.6 levels, respectively. The PMI data we follow on the UK […]
Support Level: 1.0710 – 1.0630 – 1.0500 Resistance Level: 1.0850 – 1.0900 – 1.0950 EUR/USD The EUR/USD began the week sideways, clinging to the 1.0800 mark amidst a slightly upbeat market sentiment sponsored by an improvement in US ceiling discussions, despite hawkish rhetoric by Federal Reserve’s officials. At the time of writing, the EUR/USD is […]
Fed Bullard ‘Can Raise Rates Another 50 Bp’ * Minneapolis Fed Chairman Kashkari said today on the interest rate hike process, that there is a desire to increase interest rates or close to a pause at the June meeting, that they should protect the economy from debt default and that they are likely to go […]
Support Level: 1.0710 – 1.0630 – 1.0500 Resistance Level: 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD rebounds from its weekly lows, reclaiming near the 1.0800 figure following US Federal Reserve Jerome Powell’s remarks, in which he opened the door for a pause on the Federal Reserve tightening cycle. In addition, a risk-on impulse dented an […]
Support Level: 1.0710 – 1.0630 – 1.0500 Resistance Level: 1.0850 – 1.0900 – 1.0950 EUR/USD EUR/USD is attempting to correct the heavy selling that has taken place over the course of several days. EUR/USD is currently trading at 1.0773 and is down some 0.66%, traveling between a low of 1.0762 and 1.0848 the high. No […]
FED/Logan “Data Doesn’t Support Skipping Rates“ *Weekly Unemployment Benefit Applications, which we tracked in the USA, came in at the level of 242 thousand people, below the expectations. The data was expected to come at the level of 254 thousand. Philadelphia Fed Business Index, another important data announced at the same time, came in at […]
Support Level: 1.0810 – 1.0710 – 1.0630 Resistance Level: 1.0900 – 1.0950 – 1.1000 EUR/USD Sellers remain in control of the sentiment around the European currency – and the risk complex in general – and now drag EUR/USD to new lows in the vicinity of 1.0810 on Wednesday. The persevering risk aversion continues to underpin […]
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% […]