
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
On Monday, the evergreen buck dived to fresh three-year minimums versus a currency basket because demand for the common currency kept being supported by speculation that the ECB is about to scale back its huge stimulus program.
Assessing the greenback’s value versus a basket of six key currencies, the US dollar index hit 90.51, having dived to 90.39 overnight, which is a reading not observed since December 2014.
The currency pair EUR/USD reached 1.2214 having hit a new three year maximum of 1.2239 overnight.
The common currency has edged up since last Thursday’s December ECB minutes told that officials could move to a gradual shift in policy guidance from the first quarter of 2018.
Obviously, any shifts in the bank’s guidance would be perceived by traders as a sign that policymakers are about to start winding down their bond purchasing stimulus program.
Against the Japanese yen the greenback dived to its lowest reading since mid-September, with USD/JPY trading at 110.73 having declined to 110.58.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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