There was no joy for the Greenback on Tuesday, as sellers regained control amidst a generalized absence of fervour among market participants prior to the release of key US data later in the week. The British pound outperformed its peers of the risk-linked galaxy on the back of a persistently restrictive stance from the BoE….
– Undoubtedly, the recent arrest of Pavel Durov, the programmer, creator, and owner of the Telegram messenger, has become the event of the past few days. The billionaire was detained on 24 August at Le Bourget Airport in Paris, where he had arrived by private jet from Azerbaijan. At the time, Russian President Vladimir Putin…
EUR/USD drifts lower to near 1.1185 in Monday’s early European session. Constructive bias of the pair prevails above the 100-day EMA, but the overbought RSI condition might cap its upside. The immediate resistance level emerges at 1.1223; the key support level to watch is the 1.1100 round figure. The EUR/USD pair weakens near 1.1185 during…
Weekly FX Charts Update I don’t remember a time when all the key currencies were focused on pivotal levels, which will dictate respective tones going forward. EURUSD Monthly Chart – Pivotal: 1.12 BULLISH 1,12 is one of those pivotal levels, not only guarding key daily resistance at 1.1237 but the 2023…
Newsquawk Week Ahead 26th – 28th August Newsquawk.com Week Ahead 26th-30th August 2024: Highlights include US PCE, UoM, Global CPI’s, and NVDA earnings MON: UK Market Holiday (Bank Holiday), German Ifo (Aug) TUE: CBRT Minutes, Chinese Industrial Profit (Jul), German GfK Consumer Sentiment (Sep) WED: Australian CPI (Jul), Nvidia (NVDA) Earnings (Q2) THU:…
EUR/USD: Fed Chair Sinks the Dollar ● On Wednesday, 21 August, the DXY dollar index dropped to an eight-month low, finding support at the 100.92 level. Consequently, the EUR/USD pair recorded a 13-month high, reaching 1.1173. The last time it reached such heights was in July 2023. This dynamic can be attributed to the rise…
The Euro (EUR) is likely to trade in a range between 1.1085 and 1.1155. Solid momentum indicates further EUR strength; it remains to be seen if the 2023 high of 1.1275 is within reach, UOB Group FX strategists Quek Ser Leang and Peter Chia note. Momentum may take EUR/USD above 1.1155 24-HOUR VIEW: “We expected…
Eurozone Manufacturing PMI declined to 45.6 in August, missing the 45.8 estimate. Bloc’s Services PMI jumped to 53.3 in August vs. 51.9 anticipated. EUR/USD remains in the red below 1.1150 after German, Eurozone PMI data. The Eurozone manufacturing sector extended its downturn while the services sector activity rebounded in August, according to the data from the HCOB’s latest…
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