EUR/USD gains further to near 1.1250 in Tuesday's European session, following the previous day's upside move. The major currency pair remains on the frontfoot as the United States (US) Sovereign Credit downgrade by Moody's continues to batter the US Dollar (USD), with the US Dollar Index (DXY) extending its downside to near 100.00.
On Friday, Moody's downgraded the US credit rating by one notch to Aa1 from Aaa. This move shifted the focus of financial market participants to the growing $36 trillion US government debt pile and fiscal imbalances, which would lead to a long-term increase in the cost of capital for the US administration.
Investors are worried that the US debt issues are expected to widen further, with US President Donald Trump's "big beautiful bill" likely adding $3 trillion-$5 trillion to the already giant debt stress.
Source: FXStreet
...
The Euro (EUR) weakens further against the US Dollar (USD) on Friday, with EUR/USD slipping to a three-month low. The pair remains under pressure as the Greenback draws support from the Federal Reserv...
EUR/USD weakened slightly as markets again doubted the chances of aggressive Fed easing. Powell's cautious comments prompted investors to seek refuge in the dollar, especially as global risk sentiment...
EUR/USD fell from the 1.1650 area to around 1.1625 on Monday (October 27th), but held onto some of its previous gains after touching 1.1580 last week. Market sentiment has improved somewhat due to hop...
EUR/USD attempted to hold the 1.1600 area during Wednesday's Asian session after three days of weakness. The euro's rebound attempt faltered as the US dollar remained strong, supported by easing US-Ch...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated...
Chicago Federal Reserve President Austan Goolsbee on Thursday said the lack of official data on inflation during the government shutdown...