Support Level: 0.9850 – 0.9780 – 0.9700 Resistance Level: 1.0000 – 1.0100- 1.0200 EUR/USD EUR/USD abandons the area of daily highs around 0.9950 and makes an abrupt U-turn to revisit the sub-0.9900 zone in the wake of US data results on Tuesday. EUR/USD rapidly drops and revisits the area below 0.9900 on the back of […]
Risk Appetite Recovers Slightly Before Tomorrow’s FED… We see that the risk appetite in global markets has come to the fore a little before the FED meeting decisions to be announced tomorrow evening at 21:00 (GMT+3). While there is a slight reaction in US futures stocks, we see a decrease in treasury yields. On the […]
Support Level: 0.9850 – 0.9780 – 0.9700 Resistance Level: 1.0000 – 1.0100- 1.0200 EUR/USD The single currency remains mired in the negative territory and drags EUR/USD to fresh multi-session lows below 0.9900 region at the beginning of the week. It ended Monday at around 0.9880, neutral to bullish in the daily chart. Equities in the […]
Euro Zone’s Inflation and Growth Performance As ECB Thinks… Two days left until the FED meeting. When we look at the pricing, we see that the US 10-year bond yield continues to stay above 4%, while the EURUSD parity is again priced below 1.00 and in the 0.99 region close to the evening. Ounce Gold […]
Support Level: 0.9925 – 0.9850 – 0.9750 Resistance Level: 1.0100 – 1.0200- 1.0300 EUR/USD The EURUSD finished Friday’s session almost flat at around 0.9960s with minuscule gains of 0.02%, the Shared currency recovered some ground against the USD at the New York close, slightly above its opening price. Wall Street finished the day with solid […]
US Core PCE Falls Under Expectation… The US Bureau of Economic Analysis announced on Friday that the Personal Consumption Spending Price Index remained unchanged at 6.2% year-on-year in September. Crucial to the Fed, the Core PCE Price Index rose to 5.1% year-on-year from 4.9% in August, compared to analysts’ forecast of 5.2%. On a […]
Support Level: 0.9940 – 0.9850 – 0.9750 Resistance Level: 1.0100 – 1.0200- 1.0300 EUR/USD EUR/USD accelerates the daily decline from tops near 1.0100, now comes under further downside pressure and prints new daily lows in the vicinity of 0.9960 on Thursday. It settled around 0.9970, still bullish in the daily chart. Indeed, Chairwoman Lagarde emphasized […]
ECB Meeting Fulfilled the Expectations As expected, the European Central Bank (ECB) increased interest rates by 75 basis points, raising the policy rate to 2%. The ECB caught up with the Fed in this regard by increasing interest rates by 75 basis points last month. In its statement, the ECB stated that it would continue […]
Support Level: 1.0000 – 0.9900 – 0.9800 Resistance Level: 1.0100 – 1.0200- 1.0300 EUR/USD The euro is performing a surprising recovery after having appreciated more than 3% on a four-day rally. The common currency has stretched higher on Wednesday’s US session, breaching the previous session top at 1.0050 to reach 1.0085. The US dollar has […]
Dollar Index Drops to 4-Week Low… Data from the US on Tuesday revealed that housing prices fell faster than expected in August and consumer confidence deteriorated in October. While this data is not very market mover, it seems to be an excuse for investors to support the expectations of a less aggressive Fed policy tightening […]