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The pair jumps above the July 1990 highs as today’s data showed an acceleration in price pressures, which raises the bar for rate cuts and boosts the greenback
Having rejected pivotal resistance the pair slides and tests the EMA200 as markets brace for Thursday’s policy decision by the European Central Bank
The weekly chart shows a downside bias. However, support is holding. If the hourly chart develops bearish signals, support may be tested and if longer term downside momentum holds, support is likely to be broken.
The pair is subdued after hawkish remarks by Fed voters ahead of Friday’s PCE inflation update from the US
The pair rises to 1990s territory despite the BoJ exit from negative rates, which raises risk for FX intervention by Japanese authorities
The EURUSD is slipping as we enter this week’s trading period. Its green 5-week EMA is crossing below its orange 10-week EMA (black ellipse) as a sign of potential weakness. Its weekly RSI has dipped below 50 (green rectangle). The longer this indicator maintains on the bearish side of 50, the greater downside momentum pressure the EURUSD currency pair will face.
The pair runs another strong week and remains close to multi-decade highs, despite the historic pivot from the Bank of Japan and the Fed’s dovish bias
The pair pulled back from its 2024 highs as US inflation came in hotter than expected on Tuesday and UK wage growth eased, with the rate decisions by both CBs due next week
The pace of pay increases slowed further according to today’s data, helping the pair, ahead of next week’s UK inflation and BoE decision
FXCM’s USDOLLAR basket has a high correlation with the US 10-year real rate. The current correlation coefficient is at 85%, suggesting a positive relationship between the two.
The pair extends its correction to key tech levels as Mr Powell remarks maintained expectations for cuts, while markets are coming to grips with prospects of an end to BoJ’s negative rates
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