ONLINE FOREX BROKER
2019-11-11 • Updated
In line with expectations, EUR/USD moved horizontally between 1.1845 and 1.1685 during the past week. European stocks were affected by terrorist attack n Barcelona.
The minutes of the ECB July meeting revealed the central bank’s concern over the euro’s strength. It also seems that officials are still uncertain how to signal changes in their policy settings as the economic outlook improves and the need for broad-based bond purchases diminishes.
The ECB President Mario Draghi will address a conference in Germany on Aug. 23, and two days later attends the US Federal Reserve’s Jackson Hole symposium. According to a Reuters report, Draghi won’t deliver a new policy message in Jackson Hole. At the same time, taking into account low inflation in the euro area and other developed economies, any comments on this point will have an impact on the market.
Other events in the region’s economic calendar include German ZEW economic sentiment index on Tuesday, euro zone’s flash manufacturing & services PMIs on Wednesday and German Ifo business climate on Friday.
The pair’s now in a correction within the overall uptrend. The trend channel will stay intact as long as the pair’s above 1.1625. It looks like the euro will visit this level. If it is breached, the pair will be vulnerable for a decline to 1.1540. A close below 200-week MA at 1.1770 won’t be a very encouraging sign. Return above 1.1790 is needed to open the way to the recent highs at 1.1845 and 1.1910, as well as the psychological level of 1.2000.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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