UOB Group currency strategists note that the EUR / USD could now try to reach the 1.2200 level In the next weeks. Key Comments: 24 hour view: “Our expectation for the EUR / USD to consolidate was incorrect as it made a sudden and sharp rally and broke the main resistance at 1.2011 (September high). […]
Tag: EURUSD
EUR / USD Hits Highest Since May 2018 Amid Market Optimism
EUR / USD has broken above the previous yearly high of 1.2011 and is trading at the highest levels since May 2018, currently around 1.2035. Markets are bullish on the outlook for the coronavirus vaccine, fueling risk appetite. The US ISM Manufacturing Purchasing Managers Index disappointed estimates with 57.5. Its employment component fell below 50, […]
Focus remains at 2020 high above 1.2000
EUR / USD resumes the rally on Monday. Above, the focus is on the highs of the current year 1.2010 / 15. EUR / USD regains lost ground on Monday and once again tests the 1.20 hurdle after reversing direction on Tuesday. Initially, the continuation of the bull run appears to be on track to […]
EUR / USD rises to 1.1985 zone and marks new daily highs
Euro bounces against the dollar, and is back near 1.2000. The dollar shows no clear direction on Tuesday, stocks rise. The EUR / USD rose to 1.1984 hours ago reaching a new high for the day. It then made a pullback and is trading around 1.1965, in positive territory and rebounding after Monday’s slide, when […]
Schnabel says they are considering a 12-month extension on the PEPP as an option
“The European Central Bank (ECB) is considering the extension of the PEPP for 12 months as one of the options”Said Executive Council member Isabel Schnabel on Tuesday. Additional comments: The ECB may consider a longer duration of the favorable TLTRO rate. The ECB you are not required to do what the markets expect of us. […]
The preliminary CPI falls by 0.3% year-on-year in November, below estimates
According to Eurostat’s preliminary reading of the report of the Eurozone CPI for November, the annual figure has reached -0.3%, below expectations of a drop to -0.2% and has matched the -0.3% reading from the previous month. Meanwhile, the figures from Core CPI reached 0.2% in the reported month, matching expectations and the figure for […]
EUR / USD now focused on 1.1980
UOB Group currency strategists expect more gains on the EUR / USD as long as it remains above the 1.1980 level in the coming days. Key Comments: 24 hour view: “We highlighted yesterday that ‘the bullish momentum is strong and the EUR / USD is likely to continue to advance.’ We added, ‘the yearly high […]
Recovers above 100 hourly SMA, Monday low is key support
EUR / USD is moving above the 100 hourly SMA during the Asian session. The bulls failed to secure a close above 1.20 on Monday. EUR / USD’s slide below the 100 hourly simple moving average was short-lived. The pair is currently trading above the key Simple Moving Average (SMA) located at 1.1925, after hitting […]
The ECB should extend QE purchases to offset the strength of the euro
EUR / USD has gained nearly 2% this quarter despite the resurgence of the coronavirus in the eurozone. The resistance of the common currency puts downward pressure on inflation and is of concern to the European Central Bank (ECB). According to Robin Brooks, chief economist at the Institute of International Finance (IIF), the central bank […]
EUR / USD rises above 1.1950 as risk assets gain ground
EUR / USD rises above 1.1950 during the Asian session. Optimism over the coronavirus vaccine and buoyant stock markets weigh on the dollar. Powell says the US economy remains in a damaged state. The buying tone around the common currency strengthens on Tuesday, pushing EUR / USD higher above the 1.1950 level, as stock markets […]