The Russian ruble fell nearly 30 percent on Monday, the euro fell nearly 1 percent against the dollar, and demand for the Swiss franc, the Swiss franc and the Japanese yen increased as safe havens after Western countries imposed tough new sanctions on Russia after its invasion of Ukraine. Western …
Read More »EUR/USD Trims Weekly Losses As Traders Head Into Weekend
The euro edges down 0.58% so far in the week, after falling in three of the week’s five trading days.On Friday, the EUR/USD trims some of its weekly losses, recording gains of 0.48% during the North American session. At press time, the EUR/USD is trading at 1.1252.In the overnight session …
Read More »How is Ukraine War Clouding Eurozone?
ECB executive board member Isabel Schnabel issued some comments, Thursday, on the central bank’s monetary policy. Schnabel said “It is now becoming increasingly likely that, in the medium term, inflation will approach our 2% target from above, not below”. Additional QuotesReversing the current exceptional measures has the potential to mitigate …
Read More »The Ruble Hits a Record Low, And The Safe-Haven Currencies Rise After The Russian Invasion of Ukraine
The Russian ruble fell to a record low on Thursday, the euro sank to a multi-year low against the Swiss franc, while the Japanese yen jumped after Russian forces attacked Ukraine, firing missiles at several cities and landing troops on the country’s southern coast. Investors turned away from the Russian …
Read More »USD Winner Amid Eastern Europe Crisis
The day started with investors optimistic about Eastern Europe developments, but the market sentiment deteriorated during the US trading session’s hours, resulting in the stronger USD against most of major global counterparts.Ukraine has declared the State of Emergency starting 24 February for 30 days amid reports from US intelligence indicating …
Read More »Eurozone’s supply chain issues could remain elevated until year end
Data released on Wednesday showed Eurozone’s Inflation came in at 5.1% in January, on a yearly basis, according to Eurostat. Core figures rose by 2.3%, matching the 2.3% consensus forecasts. Analysts at Danske Bank revise their 2022 forecast for HICP (inflation) and core inflation to 4.7% and 2.4%, respectively, due …
Read More »Market Drivers – European Session 23-2-2022
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 …
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