EUR/USD resumes the downside well south of 1.0500. Germany June Final Manufacturing PMI came at 52.0. The US ISM Manufacturing will be the salient event later. The selling bias is re-emerged in the risk complex and drags EUR/USD back to the mid-1.0400s on Friday. EUR/USD weak on risk-off trade, looks to data EUR/USD rapidly fades … Read more
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 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
EUR/USD looks stuck in the 1.0430 region. Germany labor market report surprised to the downside. EMU jobless rate ticked lower to 6.6% in May. The single currency remains under pressure and motivates EUR/USD to navigate in the lower end of the range around 1.0430 on Thursday. EUR/USD looks to data, risk trends EUR/USD remains offered … Read more
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 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
EUR/USD is on the back foot. The pair is set to extend its downfall, however, the 1.05 level holds for now, economists at Scotiabank report. Bullish progress dented “Multiple failures to hold a bid above 1.06 (and above its 50- day MA) and the correction over the past 24 hours would suggest the EUR will … Read more
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
In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, EUR/USD is still seen within the 1.0460-1.0630 range in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘upward momentum has not improved by much and EUR is unlikely to advance further’ and we expected EUR to … Read more
European Central Bank (ECB) President Christine Lagarde delivers the Introductory speech on Day 2 of the ECB Forum on Central Banking in Sintra, Portu .