What to watch for on Wednesday, August 31: The gloomy market environment eased early on Tuesday, although investors are far from optimistic. The USD lost some ground during the first half of the day, mostly against its high yielding rivals, but rallied during US trading hours, rising against most major rivals except the Euro. The […]
Tag: EURUSD
EUR/USD bounces above parity after ECB comments, despite USD strength
EUR/USD advances on the back of ECB Governing Council members expressing the need for a 75 basis point rate hike in September. US consumer confidence rose surprisingly, while job openings beat estimates. German inflation figures for August were in line with estimates, except for headline inflation, which was close to the 8% threshold. The EUR/USD […]
EUR/USD Price Analysis: Next step up is 1.0090
EUR/USD continues positive start to the week above parity. Firm resistance is seen near the 1.0100 area so far. The EUR/USD hits two-day highs north of the parity barrier on Tuesday. At the moment, it looks like the pair may continue to rise. Therefore, the recent weekly high at 1.0090 (Aug 26) now emerges as […]
ECB: I am leaning towards a 75 basis point hike in September – Klaas Knot
The official of European Central Bank (ECB), Klaas Knot, he declared on Tuesday that he was leaning towards a 75 basis point rate hike in September, but added that he was open to debate. He said that going back to neutrality would not be enough to tame inflation. He said a buildup of labor could […]
EUR/USD extends the advance to the 1.0055 area
The dollar maintains a tone of weakness in the face of stable yields and a rise in stock markets. The euro at weekly highs against the franc and the pound. EUR/USD with an intraday bullish bias, above 1.0055 it appears 1.0090. EUR/USD is rising for the second day in a row and continues to bounce […]
EUR/USD should remain in a range of 0.9900-1.0100 this week – ING
EUR/USD has found some support near 0.9920 but remains vulnerable. As reported by economists at ING, the pair will trade within a range of 0.99-1.01 this week. Pay attention this week to natural gas prices “Markets are now pricing in a 63 basis point ECB rate hike on September 8 – we expect 50 basis […]
EUR/USD: A period of short-term consolidation seems likely – Crédit Agricole
The EUR/USD pair appears to have stabilized around parity. The Crédit Agricole economists expect to see a short-term EUR/USD consolidation. Any surprise to the upside of the CPI in the euro zone will support a more aggressive interest rate hike by the ECB “The recent widening of the short-term EUR/USD spread may persist and continue […]
EUR/USD will fall to 0.90 this winter – Nomura
The Nomura economists expect EUR/USD to extend its decline until the end of the year. The pair is forecast to trade at 0.90 this winter. Inflation will continue to rise to multi-decade highs before peaking “We expect a further rise in euro area inflation in August, but we expect the rise to be less sharp […]
EUR/USD can consolidate between 0.9900-1.0085 – UOB
UOB Group currency strategists Quek Ser Leang and Lee Sue Ann suggest that the EUR/USD is now facing a consolidation between 0.9900 and 1.0085. 24 hour outlook: “Our expectations for the EUR to drop below 0.9900 yesterday were wrong as it bounced strongly from 0.9912 (high has been 1.0028). Despite the strong bounce, the bullish […]
Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg
The market’s cautious optimism was further strengthened by the latest news from Bloomberg on the Eurozone’s ability to fight the energy crisis during the Asian session on Tuesday. “The European Union is ready to meet its gas storage target two months ahead of scheduleas the bloc braces for a harsh winter as Russia limits supplies […]
