The EUR/USD pair snapped a three-day winning streak on Monday and turned lower after hitting fresh five-month highs in the vicinity of 1.0600 as the greenback gained momentum following the release of upbeat PMI data. At the time of writing, the EUR/USD pair is trading at the 1.0490 area, 0.47% below its opening price, having retreated from a high of...
The EUR/USD pair managed to close Friday on a positive note despite a sharp pullback seen on the back of stronger-than-expected U.S. nonfarm payrolls data. By the close, the EUR/USD pair was trading at 1.0540, with a 0.13% daily gain and a 1.5% weekly advance, the second in a row. The greenback enjoyed a short-lived spike, alongside U.S. bond yields, following...
The EUR/USD pair advanced sharply on Thursday as U.S. data added further pressure on an already-beaten greenback. Having hit a fresh five-month peak of 1.0539, the EUR/USD pair closed the day at 1.0526, posting a 1.16% daily gain. On Wednesday, Federal Reserve Chairman Jerome Powell's comments reinforced the idea that the Fed could slow the pace of rate...
The U.S. dollar, measured by the DXY index snapped a 3-day winning streak and faced some selling pressure on Wednesday against the backdrop of the resumption of risk appetite across financial markets. At the time of writing, the DXY trades at the 106.35 area, recording a 0.47% loss after falling to a daily low of 106.29. The dollar failed to capitalize on the...
The shared currency is edging lower on Tuesday despite Germany reporting soft inflation figures from November while the greenback stages a broad-based recovery, dragging the EUR/USD pair to a six-day low of 1.0319. At the time of writing, the EUR/USD pair is trading at the 1.0330 area, 0.10% below its opening price, extending its pullback from a five-month peak...
The EUR/USD pair pulled back on Monday after being rejected from a five-month high of 1.0496 scored during the European session. The greenback is staging a comeback across the board as U.S. traders rejoin the market and amid worries China's record-high Covid infections will prompt stricter restrictions, risking supply chain disruptions. At the time of writing,...
The EUR/USD pair retreated slightly on Friday but remained within a narrow range near recent highs as U.S. trading was shortened due to Black Friday. The greenback gained some traction across the board, fueled by a recovery of the U.S. bond yields, but moves were limited. At the time of writing, the EUR/USD pair is trading at the 1.0405 area, virtually unchanged...
The EUR/USD pair advanced slightly on Thursday, printing its third consecutive green candle, following the release of optimistic data from Germany and the European Central Bank Monetary Policy Accounts from the October 27 meeting. At the time of writing, the EUR/USD pair is trading 1.0410 area after peaking at a nine-day high of 1.0448 earlier on the day. The...
The U.S. dollar, measured by the DXY index, trades lower for a second straight day as the greenback faced severe selling pressure after weak U.S. PMIs and “dovish” FOMC minutes from the last November 2 meeting. At the time of writing, the DXY index trades at the 106.10 area, recording a 1% loss on the day. S&P Global reported the U.S. composite and services PMI...
The EUR/USD pair struggled to make a decisive move on Tuesday and ended the day slightly above the 1.0300 mark as a cautious market mood and mixed signals from ECB members kept the euro’s upside limited. At the time of writing, the EUR/USD pair is trading at the 1.0303 zone, 0.6% above its opening price. The euro managed to advance to a daily high of 1.0308...
The EUR/USD pair fell for a third straight day on Monday as the U.S. dollar strengthened on the back of safe-haven flows fueled by Covid outbreaks in China. New lockdowns were announced in several Chinese cities, triggering concerns about possible supply chain disruptions among investors. At the time of writing, the EUR/USD pair is trading at the 1.0250 area,...
The GBP/USD pair closes the week with gains amid upbeat Retail Sales data from the U.K. and as traders digest fiscal announcement from Chancellor of the Exchequer Jeremy Hunt. The British government announced on Thursday a succession of tax rises and spending cuts to close the fiscal gap and help to tame inflation as households’ real wages are being eroded, and...
The EUR/USD pair retreated modestly on Thursday as the U.S. dollar recovered some ground amid risk aversion triggered by geopolitical tensions between Russia and NATO after missiles landed on Poland on Tuesday. At the time of writing, the EUR/USD pair is trading at the 1.0360 area, 0.25% below its opening price. The pair hit an intraday low of 1.0305 but bounced...
The GBP/USD pair advanced modestly on Wednesday and climbed above the 1.1900 level as investors assessed macroeconomic data coming from both shores of the Atlantic. At the time of writing, the GBP/USD pair is trading at 1.1923, 0.5% above its opening price, having set an intraday high of 1.1941 amid persistent USD weakness. During European trade, the U.K....
The EUR/USD pair had a volatile session on Tuesday, rallying to fresh five-month highs to settle around its opening level by the end of the New York session. The U.S. dollar weakened across the board following the release of lower-than-expected Producer Price Index data, which continued to fuel expectations of a pivot in Federal Reserve monetary policy. The...
The EUR/USD pair retreated slightly to start the week after hitting three-month highs on Friday on lower-than-expected U.S. inflation data. The greenback managed to recoup some ground on Monday as the market mood turned cautious. Still, the euro is holding above the 1.0300 mark, supported by upbeat Eurozone industrial production data. At the time of writing, the...
The EUR/USD pair extended gains on Friday and reached fresh three-month highs as the U.S. dollar continued to underperform its main rivals. The EUR/USD reached its highest intraday level since August 10 at 1.0364 and is on track to post its highest daily close since July. At the time of writing, the pair is trading at 1.0360, up 1.5% on the day and posting an...
The EUR/USD pair jumped to fresh two-month highs on Thursday after the release of lower-than-expected U.S. consumer inflation figures as it favors the case of a less aggressive Fed at the December meeting. At the time of writing, the EUR/USD pair is trading at the 1.0130 area, 1.2% above its opening price, after bottoming at a daily low of 0.9935 earlier in the...