The EUR/USD failed to hold on to yesterday’s early gains and continued its losses to the 1.073 support level, its lowest level in more than a month, as political uncertainty in France weighed on market investor sentiment. French President Emmanuel Macron called for early parliamentary elections in response to the far-right’s success in the European […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Focus on the Fed and US CPI data With the resumption of declining US inflation trends for April and the disappointing ISM manufacturing PMI for May, investors remain confident that the Federal Reserve will start lowering interest rates sometime this year. They currently estimate about two quarter-point cuts between […]
Daily technical analysis GBP/USD: Attempts to break the rising trend
According to the results of the economic calendar, market analysts are divided over the number of rate cuts Federal Reserve officials will indicate for 2024. This division follows recent inflation figures that showed inflation remains elevated. In the big picture, policymakers may step back from their estimates of U.S. rate cuts this year, although it […]
Daily technical analysis EUR/USD: Anticipation of rate cuts in Europe
The euro rose against all G10 currencies after euro zone inflation beat estimates. The US dollar surrendered after a personal consumption expenditures reading that fell below estimates, which will be welcomed by Federal Reserve policymakers eager to cut interest rates before the end of the year. The European Central Bank (ECB) is expected to cut […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: ECB Prepares to Cut Rates: What Comes Next? The process of central banks focusing on lowering funding costs has been far from straightforward, although it looks like the European Central Bank will be one of the first to reach its expected destination. If necessary, correct to match the actual […]
Daily technical analysis EUR/USD: Would the ECB cut interest rates?
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 […]