ONLINE FOREX BROKER
EUR/USD managed to recover and close last week above 1.1900.
At the start of the week, the euro was hurt by political uncertainty in Germany coalition talks failed. However, the single currency has quickly managed to recover as investors focused on a strong growth outlook for the euro area. According to the minutes of the European Central Bank’s October meeting, members of the Governing Council agreed to reduce monetary stimulus program, but some of them were against setting the distinct date of its end. If the ECB hasn’t pledged to maintain asset purchases until September 2018, the euro would probably trade even higher.
The euro zone’s manufacturing and services PMI, as well as German Ifo business climate, exceeded the forecasts. Given the strong fundamentals, any declines of the euro will likely be temporary.
The economic calendar for the euro contains such information as German retail sales & preliminary CPI and flash estimate of CPI for the entire euro area.
Next obstacles for EUR/USD will be at 1.2015 and 1.2090. Support is at 1.1865 ahead of 1.1780.
The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
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