Stay ahead in the ever-changing forex market with our real-time updates, expert analysis, and comprehensive coverage. Explore breaking news, market insights, and actionable strategies on our forex news site. Empower your trading decisions with timely information from trusted industry experts.
© 2017 - 2024 www.faicy.lk - www.fxtamil.com.
News & Analyses
US CPI Steadies Around Estimates – USD and Treasuries Rise
​​​Bounce in FTSE 100, DAX 40 and S&P 500 May Soon Lose Upside Momentum
UK Headline Inflation Rises by Less Than Expected, GBP/USD Now Eyes US CPI
Euro (EUR/USD) Latest – German Economic Outlook Slumps in August
FTSE 100, S&P 500 and Nikkei 225 Push Higher
UK Unemployment Rate Falls Unexpectedly, but Major Concerns Reappear
Alibaba Stock Price Faces Headwinds Ahead of Earnings
Euro Gains Again Despite More Dovish ECB Commentary
Euro (EUR/USD)Prices, Charts, and AnalysisEUR/USD seems on track for a second day of gainsECB officials have offered some dovish commentaryEUR approaches its medium-term uptrend lineLearn how to trade EUR/USD with our complimentary guide
Recommended by David Cottle
How to Trade EUR/USD
The Euro posted further gains on Tuesday, rising on a little general US Dollar weakness and seeming to shrug off more shaky consumer confidence data out of Germany, the Eurozone’s powerhouse economy.The monthly survey from market research giant GfK showed the headline confidence index at minus 27.4. This was slightly better than both the -27.9 forecast and the previous month’s -28.8. Overall, the survey suggested that, while the worst may be behind the German consumer, improvements so far are incremental.Still, foreign exchange market focus remains very much on the Dollar and the US Federal Reserve. The Euro has made gains this week, as have other currencies, likely as investors take some profit after EUR/USD falls seen since early March. Fed Chair Powell and others have struck a dovish note in recent days, leaving markets with the impression that rate cuts could begin in June, and continue into this year’s second half.However, some US rate-setters have sounded less convinced of this. Atlanta Fed President Raphael Bostic and Fed Governor Lisa Cook have both wondered aloud whether inflation levels will permit the three rate-cuts currently viewed as the base case. This tone has contrasted with recent words from European Central Bank governing council members. Madis Muller said on Tuesday that an inflation slowdown might have been confirmed by the time policymakers meet in June,Bank of Italy Governor Fabio Panetta has already said that inflation was falling quickly back to target while ECB Chief Economist Philip Lane reportedly said on Monday that he was confident of this too. Given this outbreak of dovishness, the Euro’s strength is perhaps surprising. After all, it seemed hugely probable at the start of this year that the Fed would be cutting rates much before the ECB began its process. Now that seems less certain, with the euro’s recent strength perhaps also less certain to endure as a result.EUR/USD Technical AnalysisEUR/USD Chart Compiled Using TradingViewThe Euro has bounced just above the low of February 29 at 1.07976 which continues to provide near-term support.A slide below that level would be worrying for Euro bulls as it would bring into focus an uptrend line previously dominant since October 3, 2023. That currently lurks some way below the market at 1.07912 but seems likely to face a test in the coming two weeks or so. Bulls will need to crack psychological resistance at the 1.09 handle before attempting to retake the high of March 21 at 1.09400. If they can manage that then the current broad range peak of 1.09989 in in their sights, but that doesn’t look like being reclaimed in the near term.Despite some strong moves in the last week, there seems to be a lack of conviction around EUR/USD at present. IG’s client sentiment data underline this, with net-longs dominating the scene by only 53% to 47%.
of clients are net long.
of clients are net short.
Change in
Longs
Shorts
OI
Daily
-17%
29%
1%
Weekly
-11%
10%
-2%
The Euro’s ability to remain above that medium-term uptrend line may be key to more certainty in this market.–By David Cottle for DailyFX element inside the element. This is probably not what you meant to do!
Load your application’s JavaScript bundle inside the element instead.
Source link
Ethereum dips below $2,300 following August NFP data, JP Morgan weighs in on ETH ETF performance
Bears extend their control, aiming for 87.00
US Dollar holds steady after mixed NFPs
Holds steady as US data leaves Fed rate cut uncertainty
XRP dips to one-month low close to $0.53, Ripple co-founder backs Kamala Harris for US presidential election
US Dollar pops after NFP footnotes are enough to dampen hopes for a 50 basis point rate cut in September
Crypto News
Crypto legal experts from Ripple, Uniswap, Ethena Labs slam SEC for the term ‘crypto asset securities’
1INCH could be set for 21% rally as bullish divergence emerges
FTX collapse takes Galois Capital down, SEC settles charges for misleading investors and custody failures
Why could AAVE rally 20%?
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin continues its downtrend
AI tokens react following Nvidia’s subpoena from DoJ
Solana revenue hits multi-month lows as Pump.fun competition, Ethervista, launch on Ethereum
News & Analyses Analyses
Ethereum dips below $2,300 following August NFP data, JP Morgan weighs in on ETH ETF performance
...
Bears extend their control, aiming for 87.00
...
US Dollar holds steady after mixed NFPs
...
Holds steady as US data leaves Fed rate cut uncertainty
...
XRP dips to one-month low close to $0.53, Ripple co-founder backs Kamala Harris for US presidential election
...