All articles tagged with #eurusd
This week is crucial for US labor market data, which could influence the dollar's strength and Federal Reserve rate decisions. Meanwhile, political and economic developments, including tariffs and European inflation data, are also impacting currency markets, with the dollar expected to stay soft and EUR/USD testing resistance levels.
The upcoming week in financial markets will start slowly due to holidays in the US and UK, potentially leading to low trading volumes and sluggish price action. Key events to watch include Eurozone May CPI figures and US Core PCE data on Friday, which could influence monetary policy decisions and market volatility. Eurozone inflation is expected to rise slightly, while US Core PCE is anticipated to show a small decrease, impacting the outlook for interest rates and the US dollar.
The European Central Bank (ECB) left interest rates unchanged but hinted at a potential rate cut in June, leading to speculation about further cuts in the near future. The EUR/USD pair remained steady ahead of the press conference, with markets pricing in a 25 basis point cut at the June meeting and an increased probability of an additional cut in July. The ECB's statement and market sentiment suggest a potential bearish outlook for the Euro, with support levels for the EUR/USD pair identified on the charts.
The Federal Reserve maintained its dovish policy outlook, indicating no change in borrowing costs and a plan for three rate cuts this year, leading to a rally in U.S. stocks and gold prices while weakening the U.S. dollar. Technical analysis suggests potential upward momentum for gold towards $2,250, a possible Nasdaq 100 rally towards 19,175, and EUR/USD challenging trendline resistance at 1.0950. The Fed's stance may limit bond yield increases and hinder the U.S. dollar's rebound, while supporting risk assets and precious metals in the near term.
The upcoming US jobs report is expected to have a significant impact on the US dollar and financial markets, potentially guiding the timing of the Federal Reserve's easing cycle. Economists anticipate that U.S. employers added 200,000 workers to their ranks in February, with potential for an upside surprise. A strong jobs report could lead to a more hawkish interest rate outlook, pushing back expectations for rate cuts and boosting the US dollar, while a lackluster report could reinforce expectations of Fed cuts and weigh on the dollar. The article also discusses technical outlooks for EUR/USD, USD/JPY, and GBP/USD, highlighting key resistance and support levels for each currency pair.
The upcoming week in the financial markets is expected to be volatile, with key events including the U.S. ISM Services PMI, Bank of Canada and Federal Reserve decisions, European Central Bank meeting, and the U.S. nonfarm payrolls report. These events could impact the U.S. dollar, euro, gold, and other risk assets. Traders are closely watching for potential shifts in interest rate expectations and monetary policy guidance.
Gold prices plunged to a two-month low after higher-than-expected US CPI data led to a hawkish repricing of Fed interest rate expectations, boosting US Treasury yields and the dollar. The Nasdaq 100 suffered a 1.5% setback as rising US rates posed challenges for stocks, with key support at 17,555 and resistance at 18,125. EUR/USD dropped to a three-month low, closing below support at 1.0720, with potential targets at 1.0650 and 1.0520.
The EUR/USD pair slid on Monday due to the strength of the U.S. dollar and rising Treasury yields, with market focus shifting to the upcoming U.S. inflation report. The report's release is expected to drive increased volatility in the forex markets, with potential implications for the euro's future. Depending on the inflation data, the U.S. dollar may strengthen further or face pressure, impacting the EUR/USD pair's trajectory. Key technical levels to watch include resistance at 1.0785 and support at 1.0720, with potential for a rally towards 1.0835 if sentiment favors buyers.
Gold prices fell due to rising U.S. Treasury yields and a stronger U.S. dollar, while EUR/USD and GBP/USD edged lower but held above key support levels. The upcoming U.S. inflation report is expected to bring volatility, potentially impacting yields, the dollar, stocks, and gold prices. Traders should prepare for possible market turbulence and consider various scenarios based on the inflation data.
The US dollar strengthened due to surging US Treasury yields and positive economic data, with the DXY index rising sharply. FOMC Chairman Jerome Powell's remarks suggested a delay in reducing borrowing costs, contributing to the dollar's support. USD/JPY broke resistance and may rally further, while EUR/USD plummeted and faces potential support at 1.0720. GBP/USD broke below the 200-day simple moving average and may find support at 1.2455.
The US dollar surged after the release of strong NFP data, leading to a rise in Treasury yields and potential implications for the Fed's policy stance. The article provides technical analysis for three U.S. dollar pairs: EUR/USD, USD/JPY, and GBP/USD, highlighting key price levels and potential scenarios for each pair. The EUR/USD faces support at 1.0780 and resistance at 1.0860, while the USD/JPY may target 148.90 with support at 147.40. GBP/USD is consolidating within a symmetrical triangle, with critical levels at 1.2750 and 1.2630.
The Federal Reserve maintained borrowing costs unchanged and dropped its tightening bias, but hinted at not easing its stance imminently, potentially allowing the US dollar to rebound depending on incoming economic data. The upcoming US jobs report will be crucial, with a downside surprise possibly leading to a March rate cut and supporting gold prices, while a strong report could unwind dovish bets on the Fed's policy path and bolster the greenback. Gold prices may retreat if resistance at $2,050 holds, while EUR/USD faces a falling wedge pattern and USD/JPY signals a bearish shift. GBP/USD is consolidating within a symmetrical triangle, with key levels to watch at 1.2750 and 1.2645.
The US dollar's near-term trajectory and the FOMC’s guidance may be influenced by the release of core personal consumption expenditures data, the Fed’s preferred inflation gauge. A subdued core PCE reading below 3.0% could lead to a sharp turn to the downside for the greenback, potentially validating market pricing of deep interest rate cuts. Meanwhile, EUR/USD is facing potential pullback towards 1.0770, GBP/USD is consolidating within a symmetrical triangle, and gold is confined between $2,030 and $2,005 with potential breakout levels at $2,065 and $1,990.
The European Central Bank has left all policy settings untouched, as widely expected, with ECB President Lagarde indicating that interest rates will remain at restrictive levels for as long as necessary. The EUR/USD pair has shown minimal movement following the announcement, remaining within a narrow range. Traders are now awaiting the upcoming ECB press conference and the US Q4 GDP figure for potential market volatility.
The US dollar strengthened against major currencies as higher US Treasury yields reduced expectations for a March interest rate cut, with the euro, British pound, and Australian dollar falling sharply. Technical analysis indicates that EUR/USD may find support at 1.0840, GBP/USD at 1.2600, and AUD/USD near 0.6570, while resistance levels are at 1.0930, 1.2675, and 0.6635 respectively. The market sentiment suggests caution amid potential reversals and the need to monitor crucial support levels.