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
The EUR/USD has continued to recover, as on Wednesday morning the pair reached above 1.0340. During the ongoing surge it was noted that the 50, 100 and 200-hour simple moving averages could barely impact the currency pair's direction. Namely, the SMAs acted as support or resistance only a couple of hours. Economic Calendar Analysis On Wednesday, at 13:30 GMT, the financial markets
The EUR/USD has found support in the 1.0223/1.0226 range. This range provided enough support for the pair to reach above 1.0250. On Tuesday morning, the currency exchange rate was heading to the 50 and 200-hour simple moving averages near 1.0290/1.0300. Economic Calendar Analysis The Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in
On Monday, the EUR/USD passed below the 200-hour simple moving average near 1.0280, the 1.0250 mark and the weekly S1 simple pivot point at 1.0236. Economic Calendar Analysis The Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT. On Wednesday, at 13:30 GMT, the financial markets
The situation on the EUR/USD charts remains almost unchanged. On Thursday, the 100-hour simple moving average had caught up with the pair and was acting as support near 1.0350. Economic Calendar Analysis Next week, the Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT. On Wednesday,
The EUR/USD has found support in the 50-hour simple moving average, which has been strengthening the 1.0350 level. The combination of these levels was enough to start a surge. Economic Calendar Analysis This week, the US Retail Sales data release might impact the financial markets through the value of the US Dollar. The data is scheduled to be published on Wednesday at
Initially, markets saw something bearish to the USD in the Federal Reserve rate hike. The EUR/USD surged and almost reached the 1.0000 mark. However, as the Chairman of the Federal Reserve Jerome Powell hosted the Press Conference, he explained that the Federal Reserve is not about to pivot and stop the monetary tightening policy. This resulted in a drop of
Despite initially holding, the support of the lower trend line of the channel up pattern and the 1.0000 mark failed. By the middle of Friday's trading, the pair had reached below 0.9950. Economic Calendar Analysis During the week, it is all about the US Dollar associated fundamental data, surveys and central bank policy. Only exception is the Bank of England rate decision