Tuesday, 02 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
EUR/USD in Bullish Consolidation Phase Around 1.1270
Monday, 15 July 2019 11:50 WIB | CURRENCIES | EuroDolarEuroEUR/USD

The EUR/USD pair continues to consolidate Friday™s bounce from near 1.1240 region, as the bears guard the 1.1275 barrier amid a broad US dollar rebound following last week™s declines.

So far this Monday, the US dollar is seen extending its tepid recovery across the board from five-day lows of 96.72 amid an uptick in the 10-year Treasury yields, which keeps the upside capped in the spot.

The greenback wiped-off upbeat US Producer Price Index-led gains and fell sharply versus its major competitors after the Fed officials re-enforced expectations of aggressive Fed rate cuts in the coming months. The shared currency also derived support from upbeat Eurozone industrial production figures, which rose by 0.9% m/m in May.

However, the further upside in EUR/USD appears limited amid the recent weak economic data from Eurozone™s powerhouse, Germany. Meanwhile, increased odds of the European Central Bank (ECB) rolling out monetary stimulus once again by either cutting interest rates or restarting the QE program also undermines the sentiment around the EUR.

Further, the slowest expansion in the Chinese economy in 27 years could also remain a weight on the main currency pair. Looking ahead, the focus will remain on the US macro news and Fedspeak for the next direction on the prices, as the EU docket remains data-empty this week. In the meantime, the traders await the US NY Empire State Manufacturing Index due later today for fresh incentives.

Source : FX Street

RELATED NEWS
Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support...
Tuesday, 2 June 2020 15:17 WIB

Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with th...

Dollar on Defensive as Markets Pin Hopes on Global Economic Recovery...
Tuesday, 2 June 2020 08:45 WIB

The dollar was on the defensive on Tuesday as investors stuck to hopes of a global economic recovery despite heightened concerns over U.S.-China tensions and mass protests in many U.S. cities over the...

Aussie Dollar Surges As Investors Focus On Recovery From Pandemic...
Monday, 1 June 2020 14:01 WIB

Riskier currencies rose against the dollar on Monday as investors looked to positive signs from China™s post-coronavirus economic recovery and wagered on an easing in Sino-U.S. tensions. The trade-...

Dollar Slips as Investors Focus on Recovery Outlook...
Monday, 1 June 2020 08:47 WIB

The dollar slipped on Monday as investors looked past unrest in the United States to the global economic recovery from the coronavirus and hoped for an easing in Sino-U.S. tensions. The risk-sensitiv...

Euro Tests Highs before Trump's Press Conference on China...
Friday, 29 May 2020 18:30 WIB

The euro extended its gains, testing two-month highs, on Friday as traders waited for U.S. President Donald Trump's response to China's tightening control over Hong Kong, which could worsen tensions b...

LATEST NEWS
Hong Kong Shares Extend Rally

Hong Kong shares enjoyed more healthy gains Tuesday, building on the previous day's more than three percent surge, as the easing of lockdowns trumped worries about China-US tensions. The Hang Seng Index climbed 1.11 percent, or 263.42 points, to...

Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support

Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with the European Union provided support. Britain is...

European Markets Open Higher Against Backdrop of U.S. Unrest

European stocks opened higher Tuesday against a backdrop of unrest and violence in the U.S. as protests continue over the killing of George Floyd, an unarmed black man, by police last week. The pan-European Stoxx 600 climbed 1% at the start of...

POPULAR NEWS
Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal
Monday, 1 June 2020 09:15 WIB

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning...

Hong Kong Shares Open With Big Gains
Monday, 1 June 2020 08:58 WIB

Hong Kong stocks rallied at the start of trade Monday after Donald Trump stopped short of imposing sanctions on China over its plans for a security...