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Since the end of August last year, the EURUSD has been under pressure. In this regard, it has charted a lower peak followed by a lower trough. November marks the last significant low (aqua ellipse). Since then, the EURUSD has been resilient and has ground its way higher. However, it now approaches the 50% retracement of its last leg down. Moreover, price action resembles a classical charting pattern of a…
Fed Chair Jerome Powell is due to testify in front of the Senate Banking Committee today at 3:00 pm GMT. Mr. Powell is seeking confirmation of his reappointment as Chair of the Federal Reserve. Given that inflation is running at its fastest pace in almost 40 years, it is expected that a large part of the proceedings will be dedicated to reaffirming that the Fed will use its available resources…
The pair has been in retreat over the last few days, despite aggressive bets around the Fed’s tightening path, but today it finds support during the European hours
The pair dropped after Friday’s jobs reports from the United States and Canada and today it started soft, but finds support at key levels, as we head towards the US session
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The pair shows indecision at the start of the week, but manages to post new two-month highs during the European session
The pair rose on Friday due to high Eurozone inflation and poor Non-Farm Payrolls from the US, but today it returns to negative territory
The pair faces renewed pressure at the start of European trading and heads towards a negative week, weighed by Wednesday’s hawkish Fed minutes
Introduction The minutes from the Fed's December meeting indicate that members are concerned over surging inflation and that they also feel that the job market is near full employment. They also suggest that the central bank's balance sheet is due to be normalised, with the intentional reduction of Fed bond holdings. The runoff is likely after the Fed kicks off with its hiking cycle. Moreover, the Fed's acceleration of tapering…
The US Dollar deflates following its Monday rally, allowing the pair to rebound today, ahead of key events – mainly form the US
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