The EUR/USD has been trading in a range between 1.0790 and 1.0738 this week. Amidst the current currency market backdrop, the EUR/USD may take cues from Thursday’s U.S. initial jobless claims report along with the preliminary University of Michigan index of U.S. consumer sentiment on Friday. Signs of weakness in the labor market could translate […]
Key points to watch out for: Still no interest rate cuts from the Bank of England The UK economy has emerged from the deep recession it faced last year and has finally entered a recovery process. Business surveys indicate solid growth in the first quarter and even stronger momentum for the second quarter, bolstered by a […]
The EUR/USD extended its gains to 1.0812 resistance after weaker than expected U.S. jobs data and settled around 1.0760 at the start of trading this week. According to markets and analysts, there are signs that both the Fed and the ECB are going to take different paths this year. The Fed indicated in its statement last week that the economy remains solid thanks to […]
Key points to watch out for: Could the Fed jeopardize rate cut expectations? This week will be busy for the US dollar, with the Federal Open Market Committee (FOMC) meeting and the April employment report among other data releases likely to keep market traders on their toes. The main focus during the first half of […]
EUR/USD prices attempted to rebound last week, reaching the resistance level at 1.0753. However, the dollar recovered strongly after consumer spending data showed stronger-than-expected growth in the first quarter of the year. Recently, EUR/USD dipped to 1.0674 support before ending the week around 1.0692. On the other hand, the dollar remained in the spotlight ahead […]
The EUR/USD is expected to show strength this week, though it is likely to stay above the psychological support level of 1.05. According to several forex analysts, the euro is under pressure against the dollar as markets anticipate the European Central Bank independently proceeding with rate cuts in June, without mirroring similar actions by the […]
Key points to watch out for: Will US data push back the possibility of another Fed rate cut? The US dollar has rallied sharply in the last two weeks, which has motivated bulls to initiate long positions in their trades. Regarding U.S. CPI data, it showed that inflation in the U.S. reaccelerated in March. Several Federal Reserve (Fed) policymakers, including Chairman Jerome […]
Throughout the previous week, the EUR/USD attempted to rebound, although its gains were limited and it could not break the 1.0700 barrier, as selling pressure remained stronger and the US dollar had several supporting factors. Although the EUR/USD was able to close the week stable near the 1.0655 level, during the same week the pair […]
EUR/USD is holding unchanged above 1.0600, after posting losses on Tuesday. Short-term estimates indicate that the EUR/USD could extend its recovery if it breaks the 1.0660 level. On Tuesday, the EUR/USD moved higher in the early hours of the US session after poor US housing data weighed on the dollar (USD). Later, however, announcements by […]
Key points to watch out for: UK CPI data Following the release of a new report about CPI on US soil, inflation data will continue to carry the spotlight this week, including in the UK. The first item on the agenda this week in the UK is the February employment report, due on Tuesday, April 16. […]
