The Euro tumbles late in the North American session, down by over 0.60% due to a risk-off mood triggered by threats to the independence of the Federal Reserve (Fed) and controversial US policy. Concerns over fiscal deterioration in many countries sent the EUR/USD sliding, trading at 1.1642 after falling beneath the 1.1700 figure.
The last word about the firing of Fed Governor Lisa Cook by US President Donald Trump is awaiting a court ruling as the White House continued to exert pressure on the Fed to reduce interest rates. At the same time, fixed income traders demanding a higher premium over government debt sent global bond yields soaring.
Over the weekend, the US Court of Appeals declared Trump tariffs illegal, though kept them in place until October 14 as the case is headed for the Supreme Court.
All those factors are taking a toll on the shared currency as traders seeking safety bought Gold and the US Dollar.
In Europe, the no-confidence vote in France to be held on September 8, added to the downbeat sentiment surrounding most G8 FX currencies, except for the Greenback.
On the data front, US Manufacturing Purchasing Managers Indices (PMIs) from the Institute for Supply Management (ISM) and S&P Global showing mixed readings.
Across the pond, inflation figures at the European Union (EU) rose above estimates, giving a green light to European Central Bank (ECB) hawks to express that the end of the easing cycle is around the corner.
Source: Fxstreet
EUR/USD is steady late during the North American session as investors digest a soft jobs report and shrugs off the shutdown of the US government. The lack of an agreement between the White House and D...
EUR/USD holds firm on Tuesday during the North American session, although the Dollar weakens due to fears of a possible government shutdown that could disrupt the release of crucial jobs data for Fed ...
EUR/USD registers gains of over 0.20% on Monday amid worries of a possible government shutdown in the US, while data in the Eurozone, showed that sentiment improved but failed to propel the shared cur...
EUR/USD continued its rally for the second consecutive session, trading around 1.1720 during the Asian session on Monday. The pair strengthened as the US dollar (USD) weakened after the August US infl...
EUR/USD is posting moderate gains on Friday, trading near 1.1675 at the time of writing on Friday from 1.1645 daily lows, but remains on track for a 0.55% weekly decline. In the United States (US), a ...
The Federal Reserve will go into a policy meeting next week with its view of the economy obscured by a U.S. government shutdown that has suspended the release of key data, a less-than-ideal situation for policymakers divided over which risks...
Gold prices rose slightly on Monday (October 20th) after rallying to a record high, supported by expectations of further US interest rate cuts and increased demand for safe-haven assets amid the government shutdown in Washington. Investors are now...
Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down 18 cents, or 0.3%, at $61.11 a barrel as of 0938...
The three major US stock indexes fluctuated between small gains and losses on Friday in what could be another volatile session. Consumer staples and...
US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade...
European stock markets pared losses on Friday, with the STOXX 50 and STOXX 600 closing down 0.8% and 0.9%, respectively, after plummeting as much as...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...