European shares jumped 1% on Wednesday, supported by a batch of strong earnings data, and as investors digested news of the first Western sanctions against Russia over its crisis with Ukraine. The pan-European STOXX 600 index rose 1.1 percent after fears of a full-blown Russian invasion of Ukraine pushed it …
Read More »Eurozone Final Inflation Arrives at 0.3% MoM in January
Eurozone’s Inflation came in at 5.1% in January, on a yearly basis, according to Eurostat’s final reading of the Eurozone CPI report for the month. The reading was in line with the estimates of 5.1% and 5.1% previous. Core figures rose by 2.3%, matching the 2.3% consensus forecasts. When compared …
Read More »Euro Fails to Break The Pivotal Supply Level 23/2/2022
The technical outlook is unchanged, and the movements of the euro against the dollar did not change much after the failure to stabilize above the pivotal supply zone of 1.1380, the key to the bearish trend, to force the pair to approach the required target of 1.1265, recording its lowest …
Read More »EUR/GBP Sharply Retreats Amid Geopolitical tensions
The EUR/GBP jumped on Tuesday from two-week lows near 0.8300 to 0.8382, reaching the highest level since last Wednesday. On American hours it is pulling back, trading back under 0.8350, after being unable to hold above the 20-day simple moving average (0.8370).The sterling pound weakened earlier on Wednesday following comments …
Read More »Euro Volatility Index Rises as Ukraine Crisis Escalates
The euro’s one-month volatility jumped to a 15-month high on Tuesday, as the single currency was hurt by increased risk aversion amid rising gas prices and escalating tensions in Ukraine. Russian President Vladimir Putin ordered troops into two breakaway regions in Ukraine, sending the one-month euro volatility index to its …
Read More »The Euro Fails to Break Through The Resistance 22/2/2022
The euro’s attempts to stabilize above the key supply area published throughout last week’s reports at 1.1380, which represents the key to the bearish trend, pushed the pair towards the target 1.1300, recording its lowest level during the morning trading at 1.1295. Technically, by looking at the 4-hour chart, we …
Read More »US Dollar Still Winner As Russia Breaks Up Diplomatic Talks,
Risk aversion took over financial markets at the beginning of the week amid escalating geopolitical tensions in Eastern Europe. The US dollar managed to advance against its high-yielding rivals but lost ground against safe-haven ones. Mid US-afternoon, Russian President Vladimir Putin recognized Donetsk and Luhansk in Eastern Ukraine as independent …
Read More »Market Drivers – European Session 21-2-2022
An OPEC + source told Reuters that the commitment of the producer group to oil production cuts rose to 129 percent in January, noting that some members are still finding it difficult to increase their production. This compares with 122 percent in December and 117 percent in November. The source …
Read More »The Euro Rises Supported by The Possibility of a Summit Between Biden and Putin
The euro rose on Monday, supported by news of a possible summit between US President Joe Biden and Russian President Vladimir Putin to discuss the crisis in Ukraine. Details remain unclear, but French President Emmanuel Macron’s office said the two leaders had agreed in principle to hold a summit on …
Read More »Eurozone Consumer Confidence falls Below expectations
According to the flash estimate of the European Commission’s Eurozone Consumer Confidence survey, the headline index fell to -8.8 in February versus forecasts for a slight rise to -8.0 from -8.5 the month prior of January. The euro did not see any reaction to the slightly weaker than expected Eurozone …
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