The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...
EUR/USD: at one-year highs
2020-03-11 • Updated
Performance in 2020: +1.2%
Last day range: 1.1332 – 1.1458
52-week range: 1.0777 – 1.1496
While the American stock market is disoriented, oil price slumps and the shale companies are brainstorming their way to stay in the business, the euro gets stronger against the US dollar. EUR/USD trades at 1.1363 - the range of one-year highs. They were broken already on Monday, so now the currency goes in a downward correction. The Awesome Oscillator indicates the high ground reached by the currency pair, and before it goes further up it would need to take some rest to gather momentum. In the context of the latest global events, clouds are gathering above the USD. Hence, fundamentally, until good news come to the American side, the dollar is very likely to lose ground to the euro. In the meantime, the ECB interest rate press conference is a major thing to watch this week, so eyes open.
Resistance 1: 1.1505, Resistance 2: 1.1576
Support 1: 1.1340, Support 2: 1.1280
Today, Tuesday, February 13th, at 8:30 am New York time, the Bureau of Labor Statistics (BLS) releases US inflation data related to the Consumer Price Index (CPI). This data, considered high-impact, could generate significant changes in the perception of...
The US Dollar Index (DXY) has been in a consolidation phase since early February, displaying minor signs of weakening last week. Despite this, the USD continues to find support around the 104.00 mark on dips, indicating a general resilience. Analysis suggests that the USD may currently be overvalued in the short term when considering various factors
Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...
What causes the yen to fall, and how does it behave against the USD, EUR, and AUD