The most important event this week is the Federal Reserve’s Jackson Hole symposium, where Fed Chairman Jerome Powell is expected to speak publicly on Friday. At the same time, the market will focus on whether expectations of a 100 basis point rate cut by the central bank this year will be confirmed. Another factor that […]
Daily Technical Analysis EUR/USD: The Pair is Moving Towards the 1.1050 Level
The EUR/USD extended its gains for the second session in a row, reaching the 1.1030 level during Asian trading on Monday. The pair’s rise could be due to the increased likelihood of an interest rate cut by the Federal Reserve in September. Last week, U.S. economic data revealed that retail sales beat estimates, while the […]
Daily Technical Analysis EUR/USD: The pair moves amid dollar weakness
EUR/USD rose on Tuesday, supported by a broad-based weakening in U.S. dollar bids as U.S. Producer Price Index (PPI) inflation appeared to be cooling faster than expected. Traders continue to await EU Gross Domestic Product (GDP) growth figures, due in early European trading hours on Wednesday. Meanwhile, investors will turn their attention to upcoming U.S. […]
Daily Technical Analysis EUR/USD: Rallies Above 1.0900, Upside Limited by Middle East Tensions
This week, investors will be focused on new inflation data, such as the Producer Price Index (PPI) and the Consumer Price Index (CPI) in the United States on Tuesday and Wednesday. Retail sales and the University of Michigan consumer confidence index will also be released this week. Core PPI inflation and headline CPI inflation remain […]
Daily Technical Analysis EUR/USD: EUR/USD Declines, Fails to Hold 1.10 Level
The EUR/USD pared recent gains and retreated from the 1.1000 level on Tuesday as markets continue digesting recent rebalancing in Forex market flows. Investors have possibly regained equilibrium and have once again returned to betting on an increase in the pace of rate cuts by the Federal Reserve in September. Tuesday’s Eurozone economic data had […]
Daily Technical Analysis EUR/USD: Ahead of 1.0900 as Weak NFP Data Weighs on the Dollar
The EUR/USD extended its rally near the 1.0915 level at the start of the Asian session on Monday. The price rise is favored by the weakening of the dollar after poor employment data in the United States. Market traders will pay special attention to the German HCOB Purchasing Managers’ Index (PMI) along with the Eurozone […]
Daily Technical Analysis EUR/USD: Bearish Momentum May Last
The EUR/USD is expected to remain under pressure with signs of moderation in the coming days due to the amount of data to be released this week, especially today, Wednesday, when the Eurozone PPI and the Federal Reserve’s interest rate decision and subsequent statement will be released. The EUR/USD has lost ground this week from […]
Daily Technical Analysis EUR/USD: Rises Above 1.0850, With All Eyes on the Data
The EUR/USD is up slightly, trading around the 1.0860 level in early Asian trading hours on Monday. The pair rose as market traders widely anticipate the US Federal Reserve will cut interest rates in September, causing the dollar (USD) to move sharply lower. US inflation, generally measured by the change in the personal consumption expenditures […]
Daily Technical Analysis EUR/USD: EUR/USD Slips Back on Expectations of Key Data
The EUR/USD lost a third of a percentage point on Tuesday as investors huddle in anticipation of Wednesday’s PMI figures from both Europe and the US. Notably, PMI numbers will open the session in Europe today, with markets expecting a small uptick in Eurozone services PMI numbers to 53.0 in July, after posting 52.8 in […]
Daily Technical Analysis EUR/USD: Near 1.0900 Level Due to USD Weakness
EUR/USD is hovering around 1.0895 in early Asian hours on the first day of the week. The falling US dollar (USD) is helping the pair. Later in the session, German retail sales data for May will be released, followed by the Chicago Fed’s June National Activity Index. Increased expectations related to the Fed rate cut […]