EUR / USD regains lost ground on Friday and returns to the 1.1870 region. Positive news about a coronavirus vaccine increases investors’ appetite for risk. Preliminary PMI manufacturing indices for the eurozone and Germany surprised to the upside. The common currency starts the week with a positive tone and pushes the pair EUR/USD back to […]
Tag: Foreign exchange
US dollar DXY index resumes decline and visits 92.20 region
The DXY index flirts with the 8-month support line near 92.20. The risk appetite sentiment prevails at the beginning of the week. Markit’s preliminary PMI, the Chicago Fed Manufacturing Index and several Fed speeches will draw investors’ attention. The US dollar DXY index, which measures the strength of the dollar against a basket of the […]
Preliminary manufacturing PMI stands at 53.6 points in November – EUR / USD clings to gains
The Eurozone’s primary manufacturing PMI reached 53.6 in November compared to the 53.1 expected. The region’s services PMI falls to 41.3 in November from the expected 42.5. According to the IHS / Markit preliminary report, business activity in the eurozone fell sharply in November when countries introduced more aggressive measures. In fact, the purchasing managers […]
USD / CAD falls to new daily lows near the 1.3050 level
A combination of factors triggers new selling around USD / CAD on Monday. Optimism over the COVID-19 vaccine leads to a modest rebound in oil and benefits CAD. Pessimistic expectations from the Fed weigh on the USD and put some additional downward pressure. The pair USD / CAD moves with a negative bias during the […]
Preliminary manufacturing PMI falls to 57.9 points in November from 56.5 expected
The German manufacturing PMI reaches 57.9 in November compared to the expected 56.5. Germany’s services PMI falls to 46.2 in November from 46.3 forecast. According to the preliminary IHS / Markit manufacturing activity report, released Monday, the preliminary figure for the German manufacturing PMI fell to 57.9 points in November. The figure is even better […]
USD / JPY struggles to find a direction trapped within a range below the 104.00 level
USD JPY remains trapped within a narrow range below the round level of 104.00. Optimism over the COVID-19 vaccine weighs on the safe haven JPY and offers some support. Pessimistic expectations from the Fed weigh on USD bulls and limit the pair’s rise. The pair USD/JPY is extending its sideways consolidation move at the start […]
EUR / USD seen between 1.1840-1.1890 in the very short term
According to the currency strategists at UOB Group, EUR / USD is expected to move between 1.1840 and 1.1890 in the very short term. Key Comments: 24 hour view: “We expected EUR / USD to strengthen last Friday, but we are of the opinion that ‘it is unlikely to break the main resistance at 1.1920’. […]
NZD / USD drops to 0.6935 after hitting long-term highs at 0.6950
NZD / USD appreciates for the third consecutive week to hit a 23-month high at 0.6950. Kiwifruit is trading higher as risk appetite returns. NZD / USD is biased to the upside and could break above 0.6945 – Credit Suisse. The New Zealand dollar it is retreating in late Friday trading after posting a fresh […]
EUR / USD weakened near daily lows above 1.1850
EUR / USD is scheduled to end a bit weaker on Friday, but practically in the area where the week started. EUR / USD has respected its 1.1815-1.1890 range so far very well, reflecting a lack of broader direction in the market this week. The EUR/USD it’s set to end the week pretty much where […]
EUR / GBP reversal from 0.8965 contained above 0.8915
EUR / GBP reversal finds support at 0.8915, remains within previous ranges. The pound appreciates on hopes of a Brexit deal. UK macroeconomic data supports demand for GBP. The euro It lost ground on Friday, retreating from Thursday’s high of 0.8965, against a firmer GBP, amid optimistic comments from Brexit negotiators. The pair, however, has […]
