Euro is up for a big week with an ECB Meeting on Thursday and a largely telegraphed 25bps cut. Putting things into context we have been seeing a mostly sideways market the past three weeks and before that pushed higher since the middle of April. This to us suggests there will be scope to react…
Was it the charts or is it the news? What ever the underlying reason for yesterdays marubozu one thing thats clear is Euro’s upside is now likely capped. At a time when people keep speculating on when rate cuts will start what we know is the FOMC dynamics has shifted to a latter than sooner…
Euro managed to pick up Friday after spending the past week on a steady decline. The move strangely comes as US Durable Goods came in stronger than consensus and a dearth of Eurozone data. Ahead is another quiet day for Eurozone economic data though we look at CB Consumer Confidence in the US as a…
The FOMC’s minutes from its previous meeting shocked many in the market as it hinted higher rates are here to stay despite the weakness seen in recent US numbers. This is a reminder to the market that the Fed’s primary concern is inflation. Unless the economy were at the brink of a recession weak data…
Euro has been indecisive against the dollar following its bullish breakout Wednesday on poor US data and easing inflation concerns. With Germany and France on a Holiday for Pentecost Monday trading was mostly muted at the start of the week giving us a lower high. Ahead we continue to see a clear calendar data wise…
US economic data has once again proved to be a market mover in all the wrong ways for the dollar. April CPI came out weaker than expected at 0.3% month-on-month, and other numbers underscored a potential soft landing in the making as Retail Sales were flat and New York Area manufacturing dipped further. Ahead we…
Today’s calendar looks interesting as we have an ongoing Economic and Finance Ministers meeting all day and the release of EU Economic Forecasts. That said all eyes will likely be in the US with Fed Chairman Powell set to speak and a precursor to tomorrow’s CPI set for release. We have month-on-month producer prices index…
Euro saw a tight range Friday absent any market moving catalyst. Ahead we also have a clear calendar suggesting more of the same indecisive trading. With US inflation due Wednesday likely to be the main driver for the week. Should US CPI figures suggests pressures are easing we may have an excuse to finally push…
Euro saw a very tight range against the dollar Wednesday with a lack of fresh incentive to take action and a holiday in France likely sapping any interest to speculate. Ahead we may be facing more of the same given even more holidays with Germany joining the French on a break. The rest of the…
A lack of fresh catalyst has meant Euro spent much of the day in consolidation before eventually easing off in late New York trade. For now the lack of big economic data and bank holiday’s in the major markets will likely see us with this cautious tone and technical imperatives driving the market. Resistance Support…