ONLINE FOREX BROKER
2019-11-11 • Updated
EUR/USD has been hovering around the support line from this year’s lows. The US dollar’s weakness let the pair return above 1.0600. The escalation of geopolitical tensions supports the euro as the funding currency. However, concerns about the outcome of French presidential election continued to limit the euro on the upside.
According to the polls, far-right National Front candidate Marine Le Pen and centrist Emmanuel Macron will win the first election round on Sunday, April 23, and then confront each other in the run-off on May 7. If a pro-euro Macron wins the election, the euro will get a boost, but ahead of the vote, we expect the euro to underperform.
German economic sentiment strengthened, according to the data released in the past week, but the euro area’s industrial production contracted. Many European banks will be closed on April 17, the Easter Monday. In the European economic calendar pay attention to final CPI figures on Wednesday and, more importantly, the region’s flash manufacturing and services PMIs on Friday. This latter block of data represents the most recent update on the euro area’s economic health.
Another dip below 1.0600 can bring EUR/USD to 1.0555 (61.8% Fibo of 2016-2017 advance). Further support is at 1.0520/00. Resistance levels are located at 1.0670 and 1.0770.
The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.
The oil prices rally and world central banks’ dovish monetary policy caused by the Covid-19 pandemic were the main reasons for current inflation growth…
Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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