The dollar rose in trading on Tuesday, ahead of the release of key retail sales data, while the Chinese yuan benefited largely from a friendly dialogue between the presidents of the United States and China during a virtual meeting. The dollar index, which measures the greenback against a basket of …
Read More »The Euro Extends Its Losses
The single European currency extended its losses against the US dollar, within the descending wave that started several weeks ago, heading down, as we expected, approaching the awaited 1.1300, noting that breaking the 1.1400 level is the key to extending the decline. Technically, we find the euro settled below the …
Read More »Article 16 Drags UK and EU to Brinkmanship
Relations between the UK and EU have been tattered due to the brinkmanship over the British threats to trigger an emergency clause known as Article 16 of the Northern Ireland Protocol. European Commission’s Maros Sefcovic said the EU will consider all tools at its disposal if the UK Government triggers …
Read More »ECB’s de Guindos: Inflation Could Last Longer Than Expected
Reiterating the ECB’s well-known stance on inflation, ECB’s de Guindos said that the current phase of higher inflation, which partly reflects an increase in energy prices and supply constraints, could last longer than expected only some months ago. Supply shortages may dampen activity while pushing up prices, adding to the …
Read More »The Dollar is Down From Its Highest Level in 16 Months
The dollar was lower on Monday, retreating from a 16-month high, as traders looked for fresh clues about the Federal Reserve’s thinking about the timing of an interest rate hike. The dollar index, which measures the greenback against a basket of six other currencies, was down 0.1% at 95.073, retreating …
Read More »The Euro Continues Its Downward Movement
The negative moves continue to dominate the euro against the US dollar within a gradual decline to the downside, heading to 1.1400, recording its lowest price at the end of last week’s trading at 1.1433. Technically, the bearish scenario is still the most preferred, based on the regularity of move …
Read More »EUR/USD bounces off yearly lows
EUR/USD hardly declines during Friday’s session, consolidating around 1.1446, down by 0.01%. The Euro has failed to gain traction against the American currency, which has maintained same demand level during the Asian and the European session, with limited gain as the New York session begins.The Euro’s downfall has extended for …
Read More »XAU/EUR Reaches Fresh High
Gold against the EUR is trying to extend its weekly uptrend for seven successive days, trading at €1,627 during the New York session.Early in the Asian session, the precious metal retreated to give back some of its weekly gains, as bears pushed gold towards the 50-simple moving average on the …
Read More »Dollar Hits 16-Month High Amid Inflation Concerns
The dollar is set to record its best weekly performance in nearly 5 months against major currencies on Friday, amid bets that the US Federal Reserve will raise interest rates early, after data this week showed the fastest pace of inflation in the United States in 3 decades. The dollar …
Read More »The Euro to The Targets
As we expected in the previous report, the euro continues to move negatively against the US dollar, gradually approaching the official target of 1.1400, recording a low at 1.1436 during the Asian session. Technically, and with careful consideration on the 4-hour chart, the price is still moving below the 50-day …
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