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…
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…
