The EUR/USD pair tumbled to its lowest level since December 12 on Tuesday as the U.S. dollar soared across the board despite the mildly positive market mood. Lower-than-expected German inflation figures also weighed on the shared currency. At the time of writing, the EUR/USD pair is trading at the 1.0555 area, 1.0% below its opening price, after hitting a low of...
The shared currency posted minor losses against the dollar in the 2023 first trading session amid weak PMI data from Germany and the eurozone and thin trading conditions. The bond and stock markets in Europe and the US remained closed due to the New Year holiday. At the time of writing, the EUR/USD trades at the 1.0665 area, 0.32% below its opening price, while...
The U.S. dollar, measured by the DXY index closes the last trading week of 2022 with losses, posting the third consecutive weekly decline in the absence of high-impact macroeconomic data releases and amid thinned-holiday volume. At the time of writing, the DXY trades at the 103.50 area, 0.25% below its daily opening price and 0.73% lower in the week. ISM and...
The EUR/USD edged higher on Thursday as the dollar faced mild selling pressure following the release of jobless claims data. However, the EUR/USD upside potential is limited due to a scarce economic calendar and Covid-related concerns in China. At the time of writing, the EUR/USD pair is trading at 1.0649, up 0.35% on the day, after being rejected once again by...
Gold prices fell after two consecutive days of gains on Wednesday, with the spot XAU/USD retesting the $1,800 area amid low trading volume and swinging American bond yields. At the time of writing, the spot price XAU/USD is trading at the $1,808 zone, 0.33% below its opening price, after posting a daily low of $1,797 during the New York session. U.S. bond yields...
The GBP/USD pair retreated on Tuesday and slid back below the 1.2100 level as investors' sentiment wavered throughout the day amid thinned volume and in the absence of major macroeconomic data. At the time of writing, the GBP/USD pair is trading at the 1.2015 area, posting a 0.32% daily loss, while the greenback, measured by the DXY index, remains virtually...
The EUR/USD pair advanced slightly on Monday but remained trading within a narrow range amid thin trading volume, with many European markets closed in observance of Boxing Day. At the time of writing, the EUR/USD pair is trading at the 1.0630 area, 0.14% above its opening price, having oscillated between a high of 1.0634 and a low of 1.0594. Ahead of the New...
The EUR/USD pair continued to gravitate around the 1.0600 area on Friday barely reacting to U.S. Personal Consumption Expenditure (PCE) Price Index data and ending the week slightly above its opening price. At the time of writing, the EUR/USD pair is trading at the 1.0620 area, 0.25% higher on the day, after hitting a daily high of 1.0632 earlier in the...
Gold prices took a breather on Wednesday following a sharp rally the previous day, as the dollar recovered modestly across the board despite the pullback seen in U.S. yields. At the time of writing, the spot price XAU/USD is trading at the $1,815 zone, virtually unchanged on the day, after hitting a six-month high at $1,823 an ounce at the beginning of the New...
The EUR/USD pair trades virtually unchanged on Tuesday, holding above the 1.0600 level as investors remain in wait-and-see mode after an eventful week. At the time of writing, the EUR/USD pair is trading flat at the 1.0610 area, having pulled back from a daily high of 1.0658. Meanwhile, the dollar measured by the DXY index posts a 0.58% daily loss at around...
The EUR/USD pair started the week on a positive note fueled by better-than-expected German data, although it trimmed gains during the New York session. At the time of writing, the shared currency trades at 1.0610, 0.2% higher on the day after peaking at a daily high of 1.0658 earlier in the session. The German IFO data showed an optimistic economic outlook. The...
The EUR/USD is trading sideways on Friday, managing to stay above 1.0600, despite the strength of the dollar and the decline in equity markets, still favored by the European Central Bank meeting on Thursday. It peaked at 1.0735, the highest since June and then pulled back to as low as 1.0590. It is up for the week, but off highs. The ECB raised interest rates...
The GBP/USD dropped sharply on Thursday, mainly due to a stronger U.S. Dollar at critical times for currency markets, following decisions from the Federal Reserve, the European Central Bank and the Bank of England. As expected, the Fed, the ECB and the BoE raised key interest rates by 50 basis points, amid high inflation. There were no surprises there. At the...
The EUR/USD rose again on Wednesday amid a lower US Dollar across the board, weakened after the FOMC meeting. The euro climbed to a fresh multi-month high near 1.0700. The Federal Reserve raised the key interest rate as expected by 50 basis points to 4.25 to 4.5%. The move represents a slowdown compared to the previous meetings, when it hike rates by 75 basis...
The GBP/USD advances for the fourth day in a row on Monday, with the sterling gaining upward traction at the start of the week after UK GDP data while the dollar continues to face selling pressure. At the time of writing, the GBP/USD trades at the 1.2275 area, posting a 0.16% daily gain after reaching a daily high of 1.2298. Meanwhile, the U.S. Dollar Index...
The EUR/USD pair consolidates above the 1.0500 area on Friday, still unable to advance beyond the 1.0600 mark, with the pair edging lower after the release of U.S. Producer Price Index data. At the time of writing, the EUR/USD pair is trading at the 1.0540 area, posting a 0.16% daily loss, having retreated from a high of 1.0588 earlier in the session. The pair...
The EUR/USD pair continues to gravitate around the 1.0500 area on Thursday as investors take the back seat ahead of the Federal Reserve and the European Central Bank policy decisions next week. At the time of writing, the EUR/USD pair is trading at 1.0520, up 0.1% on the day, extending its recovery from weekly lows around 1.0440. Growth data from the Eurozone...
After two consecutive daily falls, the EUR/USD pair advanced on Wednesday, regaining the 1.0500 mark following supportive Eurozone data. However, the pair pulled back during the New York session as market sentiment deteriorated after Russian President Vladimir Putin said the threat of nuclear war is on the rise. At the time of writing, the EUR/USD pair is trading...