Euro saw limited ranges given multiple holidays Monday, and the lack of fresh incentive to take action. It is telling though that we have another long wick in the daily charts, this time with a substantially limited body. With very few data of note that directly impacts EURUSD we fall back to charts with the…
EURUSD’s knee-jerk response to the poor showing in US Jobs data proved unsustainable with a rejection from the bearish trend line. Although US NFP fell-short of consensus at 175,000 and the Unemployment Rate inched up to 3.9% these are not drastic enough results to change the Fed’s thinking and convince it to cut rates in…
Euro has remained stuck in a tight range for the past few days with the lack of Eurozone specific news, a holiday Wednesday, and US payrolls today keeping things subdued. Ahead though we have potentially trend changing news out of the US with the Employment Situation Report potentially reinforcing the notion of a hawkish fed…
EURUSD yesterday was mostly a US story with the market once again focusing on inflation pressures with the Employment Cost Index coming in at 1.2% against a 1.0% quarter-on-quarter forecast. The Euro area mostly saw second liner data with Flash CPI Estimates for the region mostly inline with the consensus forecast at 2.4%. Ahead we…
The past week saw Euro following through on a double bottom breakout though not quite hitting the pattern’s target. This has largely been on the back of weakness in US economic data that revived hopes for an easing sooner rather than later along with some flashes of strength from the Eurozone services sector. Ahead we…
Eurozone Flash PMI figures were not exactly all great as the Manufacturing sector signals a deepening of its contraction coming in at 45.6 from 46.1 while Services surprised on the upside to read 52.9. Considering that both sides were a disappointment in the US Flash Manufacturing PMI 49.9 against a 52 consensus forecast and Flash…
We spent the past week in consolidation for EURUSD with a lack of catalyst preventing a further sell-off or a recovery back above the breakout point. Ahead we will be seeing flash manufacturing and services PMI figure for both the US and Eurozone. While not big shakers in and of themselves a divergence in the…
EURUSD bears appear to be losing momentum absent any fresh catalyst for pushing their agenda. With Tuesday’s high wave spinning top risks going forward is for prices to consolidate until the next big news to rock market sentiment. Calendar wise there is little to potentially move the market though geopolitics remains something to be alert…
EURUSD saw a follow drop to its sell-off from Wednesday courtesy of a looming threat of airstrikes from Iran on Israel. The Iranian regime subsequently launched 200 missiles and drones towards Israel after giving notice and now considers the matter close. This puts the bag in Israel’s hands will it conduct a retaliation in turn…