The U.S. dollar retreated on Monday, shedding some of its recent gains but remaining near its highest level in two years as traders awaited the release of key employment data later this week. The dollar index, which tracks the U.S. dollar against a basket of six other currencies, was trading 0.4% lower at 108.380, losing […]
Daily Technical Analysis EUR/USD: Hovering Around 1.0300 Ahead of Preliminary German Inflation Data
The EUR/USD pair is retreating from last session’s gains and trading around the 1.0300 mark in Monday’s session. Traders are closely monitoring the Eurozone Composite Purchasing Managers’ Index (PMI) and the preliminary German Consumer Price Index (CPI) data, both scheduled for release today. The pair is experiencing downward pressure as market analysts predict further declines, […]
Dollar Rebounds After Heavy Loss, Euro Retreats on Lagarde’s Comments
The U.S. dollar rose on Monday, recovering from significant losses at the end of last week due to signs of cooling inflationary pressures. Meanwhile, the euro declined following cautious comments by ECB President Christine Lagarde. The dollar index, which tracks the U.S. currency against a basket of six other currencies, traded 0.4% higher at 107.750, […]
Daily Technical Analysis EUR/USD: Rises to Near 1.0450 on Increased Prospects That the Fed Will Leave Rates Steady in January
The EUR/USD pair is trading near 1.0430 on Monday, holding flat after Friday’s gains. The pair’s rise is attributed to a weakening U.S. dollar following the release of the U.S. Personal Consumption Expenditure (PCE) Price Index data. The November inflation report revealed that year-on-year core PCE inflation, the Federal Reserve’s preferred measure of inflation, rose […]
Daily Technical Analysis EUR/USD: Pair Plunges and Falls Behind 1.05
The euro’s upward momentum dissipated on Tuesday, pushing the EUR/USD pair below the 1.0500 level as traders prepared for the final Federal Reserve meeting of 2024. European data releases remain sparse this week, leaving Fiber traders navigating key U.S. economic data as their primary focus. Euro markets largely overlooked the multiple appearances by European Central […]
Dollar Holds Strength Before Fed Meeting, Pound Gains on Wage Data
The U.S. dollar rose on Tuesday ahead of the Federal Reserve’s final policy meeting of 2024, while sterling remained firm, buoyed by better-than-expected earnings data. The Dollar Index, which tracks the U.S. currency against a basket of six other currencies, was trading 0.2% higher at 106.740, near a three-week high. Dollar Sustains Strength Ahead of […]
Dollar Falls Before Fed Meeting, Euro Loses Ground as Well
The U.S. dollar declined on Monday, although it stayed near a three-week high ahead of the Federal Reserve’s final policy meeting of the year. Meanwhile, the euro lost ground following data showing mixed regional economic activity. The Dollar Index, which tracks the U.S. currency against a basket of six other currencies, traded 0.1% lower at […]
Daily Technical Analysis EUR/USD: The Pair Holds at 1.0500 Level Ahead of Fed Decision
The EUR/USD started the week with further gains, trading near 1.0520. This rise could suggest a weakening U.S. dollar, driven by soft U.S. Treasury yields ahead of the Federal Reserve’s interest rate decision scheduled for Wednesday. The Fed is widely expected to announce a 25 basis point rate cut at its final monetary policy meeting […]
Dollar Rises in View of CPI, Euro and Yuan Depreciate
The U.S. dollar strengthened on Wednesday, driven by anticipation of the November consumer inflation report. This pressure weighed on the euro and British pound, while the Chinese yuan retreated following reports that Beijing is considering measures to weaken its currency. The dollar index, which measures the greenback against a basket of six other major currencies, […]
Daily Technical Analysis: EUR/USD Returns to 1.05 Level Amid U.S. CPI Inflation and ECB Interest Rate Meeting
The EUR/USD pair lost nearly 0.2% on Tuesday, marking its third consecutive day of declines and testing the critical 1.0500 level as the euro’s short-term bullish recovery wanes. The pair has shifted to a more cautious stance ahead of Wednesday’s release of the Consumer Price Index (CPI) and the European Central Bank’s (ECB) upcoming interest […]