EUR/USD Down, Tries to Find Support from the US GDP Contraction
The pair is having a bad day, unable to build on Wednesday’s post-Fed rise, but covers some of its losses, helped by the greenback's negative reaction to the US GDP contraction
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
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The pair is having a bad day, unable to build on Wednesday’s post-Fed rise, but covers some of its losses, helped by the greenback's negative reaction to the US GDP contraction
The US economy posted second back-to-back quarterly negative GDP, according to the preliminary data that were just released, against expectations for marginal growth
The US central bank delivered another 75 basis point rate increase on Wednesday, but offered no guidance, while reiterating its commitment to bring inflation down and brushing off recession fears
Black gold steadies after a volatile day, as investors weighed IMF’s lower economic growth forecasts and API’s stock drawdown, while awaiting the Fed later in the day
Australia’s Consumer Price Index hit the highest levels in two decades, but was a tad lower than expected and the pair is cautious, as markets brace for the Fed’s monetary policy decision
The Fed’s monetary tightening has weighed on the sector and on Wednesday we expect its latest decision, while the week is also dominated by the quarterly results of tech heavyweights such Apple, Amazon and more
The British Pound shows some signs of exhaustion today, finding hard to extend its recent recovery past key technical levels, as markets brace for Wednesday’s Fed rate decision
The pair lost ground last week, as expectations around the Fed’s next move cooled down, but today it consolidates and tries to hold above key technical levels
XAU/USD posted profits last week for the first time in more than a month, managing to rebound form 1+ year lows, but today it lacks firm direction ahead of Wednesday’s Fed decision
ECB President Lagarde asserted the bank’s commitment to bringing down inflation over the weekend, in the aftermath of the hefty 0.5% rate lift-off, but the pair is cautious as markets brace for the Fed’s policy meeting
The earning season heated up this week (July 18-22), as Tesla, Netflix and Snap released their results, while more news stood out, such as Ford’s EV update and more
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