The EUR/USD surge has revealed a resistance zone at 1.0865/1.0875. Meanwhile, this week it was spotted that the 1.0800 level was acting as support. Economic Calendar Analysis This week, watch out for the publication of the US Producer Price Index data on Wednesday at 13:30 GMT. The data will reveal inflation at the production level. In addition, the US Retail Sales data
The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. All data numbers hit the forecasts. On the EUR/USD charts it resulted in a surge up to the resistance of the weekly R2 simple pivot point, which is located at the
The EUR/USD continues to wait for the US Consumer Price Inflation data, as the pair trades almost flat near 1.0750. Economic Calendar Analysis This week, the US Consumer Price Index release is set to dictate the short term direction of all financial markets. The data will be published on Thursday at 13:30 GMT. EUR/USD hourly chart In the case of the 1.0750 mark
From a technical perspective the support of the 1.0500 has held and caused a surge. However, the recent surge has been attributed to the US employment data release on Friday at 13:30 GMT, which caused a broad USD decline. By the start of this week, the pair had reached and was testing the resistance of the 1.0750 level. Economic Calendar Analysis This
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. On the EUR/USD chart it resulted in a decline below the 1.0575/1.0595 zone. By the middle of Friday's trading hours, the pair had reached the 1.0500 mark. Economic Calendar Analysis On Friday, The United States employment data release at 13:30 GMT is highly
On Wednesday, the EUR/USD reached the combined resistance of the weekly R1 simple pivot point at 1.0629 and the 100 and 200-hour simple moving average. Afterwards, the pair was finding support in the 1.0575/1.0595 zone. At 19:00 GMT the US Federal Reserve Meeting Minutes were released, which revealed that the Fed is not considering any rate cuts in 2023. In theory,
As the US futures markets started 2023 trading on Tuesday morning, the US Dollar strengthened. As a result the EUR/USD plummeted, as by 11:00 GMT, the pair had reached 1.0520. Economic Calendar Analysis This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment in the value of the US Dollar at 15:00 GMT. Afterwards, at 19:00
During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. Economic Calendar Analysis This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job
The European Central Bank has just now hiked its Main Refinancing Rate and has published its Monetary Policy Statement. The base interest rate has been hiked from 2.00% up to 2.50%. Afterwards, at 13:45 GMT, the President of the bank Christine Lagarde revealed that the central bank expects inflation to remain persistent and rates should remain higher. Due to the
The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of
The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The EUR/USD surged to the resistance of the weekly R2 at 1.0675, Afterwards, the
The EUR/USD remained near previous levels during Tuesday's early trading hours, as the pair waited for the US Consumer Price Index to be released at 13:30 GMT. Economic Calendar Analysis The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The inflation is set to reveal whether the Federal Reserve is successful in its policy at
The EUR/USD failed to reach the 1.0600 mark. Instead, a retracement from the 1.0580 down to the 1.0500 mark has occurred. On Monday, the pair surged and was located near the 1.0550 level. Economic Calendar Analysis The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The inflation is set to reveal whether the Federal Reserve
On Friday morning, the EUR/USD step by step continued with its recovery, as by 08:00 GMT the pair was above 1.0580. Economic Calendar Analysis On Friday, at 13:30 GMT the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation
The recovery of the EUR/USD initially stalled at the 1.0550 level. However, after retracing down and finding support in the 50-hour simple moving average, the pair eventually surged above 1.0550. Economic Calendar Analysis On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it
The EUR/USD eventually passed below the support of the 100-hour simple moving average near 1.0490 and the weekly simple pivot point at 1.0456. However, on Wednesday morning, the pair found support in the 200-hour simple moving average near 1.0440. In addition, it appears that the 1.0450 level acted as support. By the middle of Wednesday's trading, the rate had recovered and
The EUR/USD has passed the support of the 50-hour simple moving average and the 1.0500 mark. Moreover, the recent channel up pattern was broken. On Tuesday morning, the currency pair was finding support in the 100-hour simple moving average near 1.0480. Economic Calendar Analysis On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes
The EUR/USD currency exchange rate had reached a new high level on Monday morning, as the pair touched the 1.0585 level. However, the event was followed by a decline, as by 08:00 GMT the pair was below 1.0550. Economic Calendar Analysis On Monday at 15:00, the US ISM Services Purchasing Managers Index might impact the US Dollar's value. On Friday, the US
The publication of the Core PCE Price Index at 13:30 GMT on Thursday, has caused a decline of the US Dollar, which is boosting the financial markets and peer currencies. The Core PCE Price Index is the main measure that the US Federal Reserve has admitted to be using to in determining its policy. The inflation index revealed that price had
The EUR/USD has reacted to US fundamentals. Namely, the speech of Jerome Powell revealed that the Chairman of the United States Federal Reserve is considering earlier end of interest rate hikes. This indicates that the base rate of the USD would be lower than previously expected. As a result, the USD sharply declined. By the start of Thursday's European trading hours,
The EUR/USD currency exchange rate has declined below the combination of the weekly simple pivot point and the 200-hour simple moving average. However, support was eventually found in the 1.0320 level. By mid-Wednesday, the pair had almost recovered to the 1.0400 mark. Economic Calendar Analysis The day will end with a speech of the US Federal Reserve Chairman Jerome Powell at the
Despite the high volatility experienced on Monday, the EUR/USD has returned to trade between the 1.0350 and 1.0400 levels. On Tuesday morning, the pair was finding support in the 200-hour SMA and the weekly simple pivot point near 1.0350. On the other hand, resistance was found in the combination of the 50 and 100-hour simple moving averages near 1.0400. Economic Calendar
By the middle of Friday's trading, the EUR/USD had passed below the combined support of the 1.0400 mark and the 55-hour simple moving average. Economic Calendar Analysis This week notable events are over. Next week, starting with Tuesday, the scheduled fundamental events will start to impact the financial markets. At 15:00 GMT, the CB Consumer Confidence could impact the US Dollar's value. On
Due to a broad decline of the US Dollar, the EUR/USD rate has reached a new high level at 1.0448. At that level, the combined resistance of the 1.0450 mark and the weekly R1 simple pivot point at 1.0446 caused a retracement downwards. By the middle of Thursday's European trading hours, the rate had reached the 1.0400 mark. Economic Calendar Analysis This