The bullish momentum behind the Euro evaporated on Tuesday, dragging the pair back below the 1.0500 level as traders prepare for the Federal Reserve's (Fed) final interest rate decision in 2024. European data was relatively light this week, forcing Fiber traders to navigate a slew of US data.
The Euro market largely ignored the appearances of several European Central Bank (ECB) officials earlier in the week, and despite December's European PMI figures beating expectations. The pan-EU Services PMI survey figures remained in contraction as concerns over a deepening economic slowdown in Europe continued to unsettle investors and businesses.
The US Retail Sales figures surged higher to 0.7% MoM, sparking slight concerns among investors that perhaps the Fed may not need to pursue an aggressive rate-cutting strategy, especially when taking into account the recent uptick in inflation metrics. Nevertheless, markets are still pricing in a third straight rate cut by the Fed on Wednesday, with a 95% chance of a 25 bps rate cut according to the CME's FedWatch Tool.
Source: FXStreet
The EUR/USD pair strengthened during the North American session, rising 0.16%, as rumors grew that the United States and the European Union (EU) would soon sign a deal similar to the one signed betwee...
EUR/USD pulls back from two-week high of 1.1761 reached on Tuesday, trading around 1.1740 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground. United States (...
The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from...
The EUR/USD pair clings to gains made on Monday around 1.1700 during the Asian trading session on Tuesday. The major currency pair strengthens as the US Dollar (USD) corrects sharply, following a fres...
The EUR/USD pair surged on Monday (July 22nd), gaining more than 0.50%, as the US dollar weakened, pressured by falling US Treasury yields and trade uncertainty ahead of the August 1st deadline. This ...
Gold edges higher in the early Asian session on possible position adjustments after front-month gold futures snapped a three-day winning streak overnight. Speculative positioning in the precious metal appears to be elevated though not extreme,...
Asia-Pacific markets opened higher as the latest trade developments between the U.S. and Japan, as well as positive signs for a deal with the European Union, spurred investor optimism. Overnight in the U.S., the S&P 500 climbed 0.78% to a...
The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing diplomats. The proposed rate mirrors a similar deal the...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
A 19% U.S. tariff on Indonesian exports could take effect earlier than the previously expected August 1 deadline, Indonesia's chief economic...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...