EUR/USD Faces Headwinds After Monday’s Rise
The Eurodollar started the day on a solid footing, following its post-NFP’s rebound, but it comes under pressure during the start of the European session
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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The Eurodollar started the day on a solid footing, following its post-NFP’s rebound, but it comes under pressure during the start of the European session
The US Dollar is weighed today by the decline in US 10Year Yields, but the Aussie struggles to benefit
The pair started the week on the back foot and as the US markets open, it faces more selling pressure and deepens its correction, after the multiyear highs of October
The EV maker releases its financial results for the third quarter of the year, on Tuesday November 9 after US markets close, with its stock having registered a decline during that period
September and November were the only months of this year, during which GER0 failed to register new all-time highs, but last week, it returned to its usual mode and set new records
The commodity comes from two negative weeks, but starts the current one on the offensive, helped by the infrastructure bill that was passed by US Congress over the weekend
The pair’s kneejerk reaction was lower following Friday’s US NFPs, but managed to close the day in positive territory and starts the current week with positive undertone
The week was packed with important events and central banks were front and center, delivering consequential and market-moving decisions. We also had some key economic release and quarterly financial results from high profile firms
The two ride sharing companies announced this week their latest quarterly financial results, for the third quarter of the year
The Bank of England did not raise rates from 0.1% on Thursday, as it handed down its monetary policy, with two officials dissenting in favor of rate hikes, while the Quantitative Easing program stayed at £895 billion
The pair consolidates and is likely to remain in such pattern as investors await the always-important Jobs Report from the United States, the outcome of which could decide the next leg of the move
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