According to the economic calendar results, headline and core inflation rates increased to 2.6% and 2.9% in May, higher than expected. This set of data suggests that the economic backdrop could benefit from a looser monetary policy from the Federal Reserve. Underlying prices for personal consumption expenditures, the Fed’s preferred measure of inflation, increased by […]
Daily technical analysis EUR/USD: Bulls need further incentive
In an attempt to drive the EUR/USD price higher, the pair rallied yesterday, reaching the resistance level of 1.0889 before stabilizing around 1.0850. Recently, traders of the European currency (EUR) have been awaiting the German inflation figures. At the same time, the US dollar (USD) continues to rise ahead of the Federal Reserve’s policy tightening. […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Will the CPI data interrupt the idea of ‘rising for longer’? The US dollar was able to stabilize this week, recovering a small portion of its losses following the release of CPI data showing that US inflation resumed its downward trend in April. This may have also given the dollar a chance to […]
Daily technical analysis EUR/USD: Bears point to 1.08 support as the key
The EUR/USD was unable to break or at least challenge the 1.09 level during the previous week, instead dropping to the 1.0850 level within tight ranges. Also, this week will be crucial as Friday brings important US inflation data. Recently, the minutes of the Federal Reserve’s May meeting indicated that inflation had not retreated further in recent […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Will the CPI report bring the Bank of Canada’s rate cut closer? Inflation data will capture attention this week with the release of CPI figures in Canada, the UK, and Japan. Canada will lead this week with its CPI figures scheduled for release on May 21. The week will […]
Daily technical analysis EUR/USD: The euro is expected to strengthen
Elsewhere in Europe, Eurozone PMI data, along with specific figures from Germany and France, will be released early. These are expected to show further growth in the services sector and a slight contraction in manufacturing. Additionally, consumer confidence in Europe is expected to improve significantly, reaching its highest level since February 2022. On the other […]
Daily technical analysis EUR/USD: Ahead of decisive U.S. data
The EUR/USD is trading near its highest level in over a month, ahead of the release of crucial US inflation data that is expected to significantly impact the Fed’s monetary policy outlook. As currency markets await key data from the world’s leading economy, which will impact the dollar and overall market sentiment, earlier strong wage […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Attention focuses on US CPI figures At its meeting a few weeks ago, the Fed was less hawkish than previously thought, with Chairman Powell ruling out further rate hikes and making it clear that they are not yet inclined to cut rates. The softer than expected April employment report confirmed this view, which was supported by […]
Daily technical analysis EUR/USD: A quiet start to the week
As this week begins, the EUR/USD is moving within a very tight range in a quiet environment, with little economic data scheduled for today and anticipation building for the US inflation figures due later this week. This is likely to elicit a significant and direct response concerning the future of monetary policy by the Federal Reserve. […]
Daily technical analysis EUR/USD: Remains in range
The EUR/USD has been trading in a range between 1.0790 and 1.0738 this week. Amidst the current currency market backdrop, the EUR/USD may take cues from Thursday’s U.S. initial jobless claims report along with the preliminary University of Michigan index of U.S. consumer sentiment on Friday. Signs of weakness in the labor market could translate […]