EUR/USD Steadies After Its Poor Weekly Start
The pair did not avert fresh 2021 lows today, after yesterday’s drop from Mr Powell re-nomination US Dollar boost, but finds support as European trader enter.
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The pair did not avert fresh 2021 lows today, after yesterday’s drop from Mr Powell re-nomination US Dollar boost, but finds support as European trader enter.
The pair registered a mixed week, as it erased gains from Wednesday’s 4+ year-highs and dropped on Friday, but today it manages to attract buyers
The pair comes from two straight weeks of losses and today its remains soft, exposed to Friday’s 2021 lows
The common currency managed to stage a solid rebound yesterday, but today, it faces renewed pressure on the back of fresh dovish ECB rhetoric
UK Retail Sales rose more than expected in October, adding to a series of supportive economic data for the British Pound
The pair finds support over the last couple of days, after having taken a beating earlier in the week from dovish RBA rhetoric and hot US CPI Inflation, but will struggle to avoid a negative weekly close
EURUSD Price Action For November Past Performance: Past Performance is not an indicator of future results. The chart above considers the EURUSD H4 scale. The vertical line marks 1 November. Area 1 shows that the month had a bullish start to it, climbing near 65 pips. However, this was short-lived, as the EURD plunged for 10 candlesticks before finding support and rebounding (area 2). However, it stopped short of area…
The pair maintains its positive undertone and runs its third straight profitable day, managing to extend this week’s gains into new monthly highs
Following three straight negative weeks, the pair regains its poise, with the help of supportive economic releases and BoE commentary
The Reserve Bank of New Zealand (RBNZ) released its quarterly Survey of expectations, which revealed increased inflation expectations, boosting the Kiwi
UK core inflation printed at 3.4% y/y, higher than the 3.1% forecast. For the Euro, core came in at 2% y/y, less than the consensus of 2.1%. There is also very different communication from each's central bank. At the monetary policy report hearing on Monday, BoE governor, Andrew Bailey, admitted to being "very uneasy' about inflation. Although the BoE did not raise rates at the last meeting, there were two…
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