Marches toward 1.0500 as bulls defend 1.0380, a crucial support

EUR/USD has displayed a responsive buying action around 1.0382. The RSI (14) is attempting to breach 60.00 which will bring a fresh impulsive wave. The trendline placed from June 17 low a 1.0444 will act as a critical hurdle for the counter. The EUR/USD pair is facing a time correction after hitting a high of … Read more

EUR/USD retreats towards 1.0450 near fortnight low ahead of Eurozone inflation, US ISM PMI

EUR/USD fades bounce off two-week bottom, pares biggest daily gains in a fortnight. Softer US spending, PCE inflation propelled growth concerns and weighed on the USD. Market sentiment remains weak amid recession, inflation fears. Eurozone inflation, US ISM Manufacturing PMI for June will be important to watch for the day. EUR/USD fails to extend the … Read more

German Retail Sales plunge by 3.6% YoY in May vs. -2.0% expected

German Retail Sales arrived at -3.6% YoY in May vs. -2.0% expected. Retail Sales in Germany stood at 0.6% MoM in May vs. 0.5% expected. Germany’s Retail Sales rose by 0.6% MoM in May versus 0.5% expected and -5.4% last, the official figures released by Destatis showed on Thursday. On an annualized basis, the bloc’s … Read more

EUR/USD finds bids around 1.0430, downside remains favored ahead of US PCE Price Index

EUR/USD has been displayed a modest rebound on a minor correction in the DXY. The central banks do not see the return of a lower inflation environment. The US PCE Price Index may slip to 4.7% vs. 4.9% recorded earlier. The EUR/USD pair has witnessed a minor rebound after hovering around 1.0430 in the early … Read more

ECB’s Lane warns of dual risks of inflation and economic slowdown

European Central Bank (ECB) Chief Economist Philip Lane warned about a double-sided risk of higher inflation for longer and an upcoming recession, in an interview with CNBC on Tuesday. Key quotes “With the uncertainty, we have to manage the two risks.” “On the one side, that could be forces that keep inflation higher than expected … Read more