EUR/USD Starts the Week in Upbeat Mood
The pair slumped during the previous week due to the Dollar’s Fed-fueled strength, but the new one begins with difficulties for the greenback
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The pair slumped during the previous week due to the Dollar’s Fed-fueled strength, but the new one begins with difficulties for the greenback
The pair started the day on the front foot after two losing days, but gives up its gains during the European hours and heads towards another negative week
The US Dollar surged after Wednesday’s monetary policy decision by the US Federal Reserve, extending its gains against the Japanese Yen today
The Federal Reserve monetary policy decision yesterday boosted the US Dollar and the pair extends its losses today
The left chart below shows the EURUSD daily. The price moved from the bullish area (upper blue and red bands) to the bearish region (lower blue and lower red bands). The lower band has turned down (black ellipse). If the upper band pushes out (green square), it will signal a further expansion in inherent volatility. The righthand chart shows the EURUSD hourly. The trend-following indicators have turned down (black ellipse),…
The Fed will release the FOMC statement at 7:00 pm GMT today, followed by a press conference thirty minutes later. The market expects confirmation that its rate hiking cycle will begin in March. The prospect of tightening is one of the reasons that the market shifted to a risk-off sentiment during January. However, inflation is currently at 7%, a threat to the Fed's price stability mandate. This poses a problem…
Last week was negative due to broader risk aversion, despite Friday’s bounce, with the same mood persisting at the beginning of the current one
Eurozone Consumer Price Index did not offer any surprises and the common currency struggles to stay in positive territory, following Wednesday’s rebound
Inflation in the UK jumped to its highest level since the 1990s, which works in favor of monetary tightening expectations, with the pound finding support
The pair advanced last week, but today it runs its third negative day, as aggressive rate hike bets for the Fed and higher US yields support the greenback
The central bank of Japan (BoJ) maintained policy settings and upgraded inflation forecasts, while higher US treasury yields support the pair
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