What you should know on Friday, March 18: The US dollar remained under selling pressure throughout the day, accelerating its decline ahead of the London correction. The dollar was hit by persistent weakness in government bond yields following the Federal Reserve’s hawkish announcement on Wednesday. At the end of the US session, US Secretary of […]
Tag: EURUSD
EUR/USD extends recovery above 1.1100
The euro has accelerated its recovery to levels just above 1.1100. Hopes for a ceasefire in Ukraine and USD weakness are buoying the Euro. EUR/USD is likely to find strong resistance at 1.1100/20 – ING. The euro has accelerated its recovery from weekly lows at 1.0900, to hit session highs just above 1.1100 with the […]
Green light at 1.1100 and above
EUR/USD presses weekly highs around 1.1080. The provisional barrier comes at the 20-day SMA at 1.1094. The EUR/USD accelerates further and advances to multi-day highs in the 1.1070/80 area on Thursday. As long as the bulls remain in control, then the pair could attempt a temporary hurdle test at the 20-day SMA today at 1.1094. […]
Inflation is increasingly likely to stabilize at the 2% medium-term target – Christine Lagarde
“Inflation is increasingly likely to stabilize at our 2% target in the medium term,” European Central Bank President, said on Thursday. Christine Lagarde as reported by Reuters. Featured Statements “If wages were to noticeably and persistently exceed that benchmark, even as growth was slowing, it could be an indication that household inflation expectations are drifting […]
At risk of falling to 2020 lows at 1.0635/40 despite change in coordination between EU and ECB – Westpac
The aggressive turn in the European Central Bank’s (ECB) tightening plan suggests that it will act on a “whatever it takes” basis to contain inflation, so the EUR may find solid support if the Ukraine conflict is contained. However, a drop to the 2020 low at 1.0635/40 cannot be ruled out, Westpac economists report. Change […]
Points to sustained move above 1.1050 amid optimism between Russia and Ukraine
EUR/USD celebrates the renewed optimism about the war between Russia and Ukraine. Risk appetite weighs negatively on the safe-haven US dollar. EUR bulls need to reclaim the 100 SMA on the 4-hour chart for further rally. EUR/USD returns to weekly highs of 1.1053 as the US dollar comes under renewed selling pressure amid a new […]
No risk of recession at this time due to the war in Ukraine despite high uncertainty
Francois Villeroy de Galhau, a member of the Governing Council of the European Central Bank (ECB), said on Thursday that “there is no risk of recession at this time due to the war in Ukraine despite the high uncertainty“. Additional comments The war in Ukraine will lead to higher inflation and lower growth. the ukrainian […]
EUR/USD could now rise to the 1.1080 region – UOB
In the opinion of the UOB Group’s currency strategists, the current upside momentum has the potential to push EUR/USD to the 1.1080 zone on the short-term horizon. Featured Comments 24 hour view: “EUR/USD moved choppy yesterday before closing at 1.1032 (+0.74%). The underlying tone has turned firm and EUR/USD could move higher from here. That […]
The dollar falls despite an aggressive Fed, the focus is on the BoE
This is what you need to know to trade today Thursday March 17: The risk appetite money flows dominated financial markets during the second half on Wednesday despite aggressive policy views from the US Federal Reserve. The US dollar index, which fell 0.6% on Wednesday, remains relatively quiet in early Thursday as investors await the […]
EUR/USD returns above 1.1000
Despite a more aggressive than expected Fed, EUR/USD rallied and is at session highs of 1.1035. The Fed signaled rate hikes at each remaining meeting this year and four more in 2023, pushing US yields higher. But it was risky after pressure from Powell and a rally in stocks weighed on USD demand. Although most […]