What to watch for on Thursday, August 25: The dollar wavered between gains and losses, ending the day mixed, but little changed on the currency board. The US currency advanced earlier in the day but gave up some ground after the Wall Street open as US stocks managed to post modest gains. In the United […]
Tag: EURUSD
EUR/USD remains under pressure after a short-lived rebound
The dollar loses momentum due to risk appetite. Market participants turn their attention to Jackson Hole. EUR/USD fails to recapture 1.0000, hovers near 20-year lows. The pair EUR/USD rose from the daily low of 0.9907 to 0.9998 in a few minutes, thanks to the general decline in the US dollar. The euro was unable to […]
EUR/USD loses control and approaches 0.9900, with eyes on Jackson Hole
EUR/USD remains on the defensive and is approaching 0.9900. Dollar rises to daily highs after yields and data. The Jackson Hole Symposium begins Thursday. Sales pressure forces the EUR/USD to trade a considerable distance from the 0.9900 zone on Wednesday. EUR/USD now eyeing 2022 lows EUR/USD sees its daily decline pick up extra pace and […]
EUR/USD still on track to test September 2002 low near 0.9615 – BBH
The EUR/USD remains heavy after Tuesday’s bounce really failed to break the 1.00 zone and is currently trading near 0.9930. BBH economists expect the pair to challenge the September 2002 low near 0.9615. ECB officials acknowledge recession risks “We believe EUR/USD is still on track to test the September 2002 low near 0.9615.” “The member […]
EUR/USD extends pullback and approaches 0.9900
The dollar gains momentum again after Tuesday’s fall. US: Report durable goods orders with mixed signals. EUR/USD remains under pressure, unable to sustain recovery. EUR/USD continued to pull back and posted fresh daily lows at 0.9912, close to Tuesday’s low in decades at 0.9898. After the publication of US economic data, the pair did not […]
EUR/USD: Unlikely to rebound for the duration of the energy crisis – SocGen
Kit Juckes, Global Currency Strategist General Companyunderlines the importance of the terms of trade for the strength of the dollar. Euro Won’t Rebound Until Devastating Terms of Trade Divergence Stops. Energy prices help the dollar and crush the euro “When oil prices rose in the run-up to the Global Financial Crisis, both the European and […]
EUR/USD: A drop to 0.98 is more likely than a sustained recovery above parity – ING
EUR/USD staged a rebound and tried to regain parity after falling to its weakest level in almost 20 years on Tuesday, around 0.99. Nevertheless, the pair has retraced to 0.9950 and could drop to 0.98, ING economists report. Bearish bias persists “While an improvement in eurozone growth sentiment may trigger an asymmetric upside reaction in […]
EUR/USD: Downside pressure eases above 1.0035 – UOB
Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang, pointed out that the current weakness of the EUR/USD could mitigate above the 1.0035 level. 24 hour outlook: “Yesterday we highlighted that the Euro was likely to drop further and indicated that next support was at 0.9980 (minor support was at 0.9900). Subsequently, the […]
Forex Today – Asian Session: Profit Taking Halts Dollar Rally
What to watch for on Wednesday, August 24: The USD veered south after extending its rally throughout the first half of the day, ending the day lower against most major rivals. The catalyst was dismal US data, as the US Global Services PMI contracted to 44.1. At the same time, the manufacturing index expanded at […]
EUR/USD recovers strongly from 20-year lows after weak US data.
The US dollar falls after preliminary data from the S&P Global PMI for August. Eurozone consumer confidence unexpectedly rises in August. EUR/USD has the best day in two weeks. The sharp decline in the US dollar overall boosted the pair EUR/USD after the publication of economic data from the United States. The pair rose from […]
