The EUR/USD pair advanced above the 1.0200 level after the Fed announced a 75 bps rate hike as widely expected. However, it seems that Jerome Powell’s cautious comments regarding future meetings disappointed some investors and weighed on the U.S. dollar. At the time of writing, the shared currency trades at the 1.0205 zone, recording a 0.9% daily gain, having hit...
Energy-led recession fears put an end to the EUR/USD recovery, with the shared currency tumbling to weekly lows. Meanwhile, the U.S .dollar trades firmly as investors brace for the FOMC decision. At the time of writing, the EUR/USD pair trades at the 1.0120 area, posting a 0.97% loss on the day, having hit an intra-day low of 1.0107 during the New York session. ...
The EUR/USD pair shrugged off slowdown worries fueled by disappointing German IFO data and stayed afloat on Monday as the US dollar struggled to find demand in a risk-positive environment. At the time of writing, the shared currency trades at 1.0220, virtually unchanged since the weekly opening, after bouncing from a daily low of 1.0178 set during the European...
The U.S. dollar, measured by the DXY index, struggles to find demand on Friday and is falling for second day in a row and posting the fifth decline in the last six trading days, following disappointing U.S. PMI data. Even though the DXY climbed to a daily high of 107.35 during the European session on the back of weaker-than-expected European PMIs, the dollar...
The EUR/USD pair manages to close Thursday with a modest 0.5% gain at the 1.0220 area following a spike to fresh two-week highs as the knee-jerk reaction to the European Central Bank higher-than-expected rate hike announcement. The ECB decided to raise rates by 50 basis points – a 25 bp move was expected and priced in by markets – and announced a Transmission...
The yellow metal slipped below the $1,700 threshold during the New York session on Wednesday as the greenback gathered pace across the board. The XAU/USD made fresh YTD lows at the $1,695 area as the market sentiment deteriorated. The U.S. Dollar Index advanced modestly and trades above 107.00 following three consecutive daily losses. At the same time, U.S....
The EUR/USD pair advanced further on Tuesday and reached its highest level in almost two weeks as investors brace for the ECB lift off, while the greenback faced selling pressure across the board. Speculations that the ECB might consider a 50 basis point rate hike when the Governing Council meets on Thursday propelled the EUR/USD to above 1.0200. The EUR/USD...
The EUR/USD pair extends its recovery for a second straight day on Monday, moving away from parity and clinging to gains around 1.0150. Investors’ sentiment and risk impulses have dictated the trading pace as no relevant news was released. At the time of writing, the EUR/USD is trading at 1.0145, posting a 0.57% daily gain, having hit an 11-day peak of...
The U.S. dollar faces some profit taking into the weekend with the DXY pulling back from a two-decade high reached on Thursday at 109.29. At the time of writing, the index trades at the 108.05 level, 0.5% below its opening price, but still posting a 1.1% weekly gain, the third in a row. The Federal Reserve Governor Christopher Waller said on Thursday that markets...
The EUR/USD pair fell to a fresh cycle low below parity as the US dollar soared across the board as risk-averse trading resumed following Wednesday’s US CPI volatility. After hitting a fresh 20-year low of 0.9952, the EUR/USD pair managed to recover some ground during the New York session and currently trades right above the 1.0000 level. The Dollar Index DXY...
The EUR/USD bounced from below parity once again on Wednesday and posts a modest daily gain in the 1.0050 area as the dollar failed to retain the data-triggered strength. The greenback rallied across the board after data showed the US Consumer Price Index rose by 9.1% in June, recording the highest inflation rate in forty years. Core inflation showed a slight...
The EUR/USD pair extended its free-fall on Tuesday and hit the parity level for the first time since 2002 during the European session as Eurozone and Germany's ZEW surveys came in worse than expected. However, the shared currency managed to recover some ground and at the time of writing, the EUR/USD pair trades around 1.0060 with a modest 0.3% daily gain. ...
Gold prices fall for the second day in a row on Tuesday, hitting the lowest level in almost ten months as the greenback continues to strengthen across the board. Spot gold, XAU/USD, dropped to $1,723 an ounce, its lowest level since September 2021, before recovering slightly. At the time of writing, the metal is trading around $1,730, 0.23% below its opening...
Financial markets started the week in risk-off mode. The EUR/USD pair broke below the 1.0100 level, the last major support area before the parity level, with the US dollar underpinned across the board amid global recession concerns. At the time of writing, the EUR/USD pair currency trades at de 1.0075 area, 1.08% below its opening price, having hit a fresh cycle...
The pair EUR/USD seesawed between small gains and losses on Friday as investors assessed an upbeat June’s US nonfarm payrolls report. The shared currency is currently trading at the 1.0170 area, having hit a fresh cycle low of 1.0071 as a reaction to the NFP data and rising to a daily high of 1.0191 before losing momentum. The US Bureau of Labor Statistics data...
The EUR/USD pair continues to hit fresh multi-decade lows on Wednesday as the greenback strengthened across the board following upbeat PMI services data for the U.S. economy. Global recession fears continue to haunt the market participants that seek refuge in safe-havens. At the time of writing, the pair is struggling around 1.0180, having struck a low of 1.0161. ...
The EUR/USD pair plummeted on Tuesday and hit its lowest level in 20 years, as the greenback soared across the board on a bout of risk aversion. Concerns remain the same. Stagflation fears are haunting investors that continue to seek shelter in the US dollar. The EUR/USD broke through May low of 1.0349 and the 1.0300 psychological level to hit its lowest level...
The pair EUR/USD trades virtually unchanged in a quiet session on Monday as US stock and bond markets remain closed in observance of the Independence Day holiday. The pair currently hovers around the 1.0420 area, just a few pips below its Friday’s closing price. EU economic data came in worse than expected. The EU Producer Price Index rose by 36.3% YoY in May,...